Leeds United’s decision to loan Joe Gelhardt back to Hull City could prove a valuable one as the club plan their PSR budgets for 2026 and beyond.

The summer of 2024 saw Leeds sell a significant group of players for huge fees in order to balance the books ahead of a second year in the Championship.

Upon returning to the Premier League, United spent big, but didn’t cash in on many assets at all and thus limited their headroom compared to Sunderland.

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Joe Gelhardt stuns for Hull City on loan from Leeds United for second spell

A handful of loans were sanctioned, though. One of those being Joe Gelhardt’s return to Hull City, having helped the Tigers stay in the division in 24/25.

Now managed by Sergej Jakirovic, the Tigers are plotting a surprising push to break into the playoffs early this season.

Joe Gelhardt is finally shining away from Leeds United, on loan at Hull City. (Action Images/Ed Sykes)

Their 2-1 home win against Leicester City in midweek lifted them to seventh, within touching distance of the top six. That three points came entirely courtesy of Gelhardt’s involvement.

He set up the opener for Liam Millar on six minutes, before doubling Hull’s lead just after half an hour. Those contributions take Gelhardt to four goals and one assist in his first 11 games.

Forgotten PSR boost could be looming for Leeds United amidst Joe Gelhardt form

It’s great to see that Gelhardt is hitting the form that everyone at Leeds hoped he’d find. His breakout in 2022 was astounding, but he was unable to kick on from there.

A mixture of turbulence at Leeds, plus multiple managers not knowing his best role, meant that he’s not had the opportunity to perform consistently.

Now at Hull for a second spell, Gelhardt looks like the asset Leeds hoped he could turn into, even at Championship level.

As the 49ers project their spending, finding permanent fees for surplus to requirements players would be a real help. Which is where Gelhardt could come into the equation.

Gelhardt could well hit double figures, as his form suggests is likely. As a result, Leeds have someone that Championship clubs could be queueing up for towards the final year of his contract.

Read more: Truth behind shock Leeds United January transfer links…