Leeds United supremo Massimo Cellino has hailed the latest set of financial results at the club, which show a 91 per cent reduction in losses, and says now is the time to focus on improving the playing squad.
The Yorkshire giants released their financial results for the year ending 30th June 2015 earlier today and the headline figure saw losses move from £22.9m to just £2m.
Cellino believes much work has been done off the pitch, so much so that attention can now turn to improving the squad on the pitch as Leeds look to ensure they challenge for promotion to the Premier League next season.
The Italian businessman said via his club's site: "I would like to thank the senior management team and all of our employees for their hard work and effort during this difficult period to help achieve these improvements in the business performance of the club.
"The accounts illustrate the commitment that has been made to resolve the financial issues which have surrounded Leeds United Football Club. The club is now on a stable financial footing for the first time in many years", Cellino continued.
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"We are confident that we can continue to make further improvements in the years ahead. We hope that we can now finally begin to focus and invest the club's income, generated through our supporters and sponsors, into improving the quality of the playing squad and performances on the pitch.
"We would like to thank the supporters and our sponsors for their continued patience and support", Cellino, who has recently seen some fans protest against his ownership, concluded.
Leeds did see average attendances over the period fall from 25,089 to 24,278, while at last night's 1-1 draw against Fulham around 17,000 were present.
Cellino will hope investing in the playing squad at Elland Road will see attendances begin to march upwards.
