Tuesday, 8th April, 2014
Leeds United have announced a loss of £9.5m for the 2012/13 financial year, with turnover dropping £3m on the previous year's results.
The Yorkshire giants are currently in the midst of a takeover, with Italian businessman Massimo Cellino buying 75 per cent of the club from current owners GFH Capital.
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The newly-announced financial figures cover the period which saw GFH take control of Leeds in December 2012.
Leeds' accounts show that the club saw attendances at Elland Road drop by eight per cent during the course of the year, while GFH Capital sold more than 50% of their stake before buying it back at the end of 2013, before agreeing to sell to Cellino.
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According to the BBC, the Yorkshire giants now owe over £30m to creditors, meaning Cellino will have to reduce the club's debt to meet Football League financial fair play rules.
Last month saw Leeds' players agree to defer part of their salary, although this has begun to be made up in chunks.
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