Massimo Cellino claims Leeds United wage bill reduced to £10.5m

Almost one year after Leeds United reportedlosses of £22.8m in the 12 months leading up to June 2014, owner Massimo Cellino claims the club’s finances have significantly improved.

The controversial Italian owner, who was recently reinstated on Leeds’ board by the Football League after serving a lengthy suspension, has revealed the Championship club is almost breaking even, and the wage bill has even been halved.

Speaking to the Daily Mirror, Cellino said: “When I first came in, I had to pay £5m just to keep the club going. By the end of last season, we had lost £22m. Now the forecast is that we are close to break even.

“We also had big wages last year. Nearly £21m in wages and we had an average age of 29. Now we have brought it down to £10.5m, but have to attract new players, so it will go up to £13m and the average age is now 23.”

Hopefully this is the break Leeds fans are desperately needing after a dismal season.

As well as Cellino returning, Leeds’ transfer embargo was also withdrawn after a six-month period, thus meaning the club is now allowed to make some moves during the off-season.

The club was handed an embargo in December due to a failure to follow the Football League’s Financial Fair Play rules.

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