Keith Wyness, Everton’s former manager, has warned that new investors Red Bull “can’t save” Leeds United from a probable violation of Profitability and Sustainability Rules.
Speaking on the latest episode of Football Insider’s Inside Track podcast, the 66-year-old, who was CEO at Goodison Park from 2004 to 2009 and now runs a football consultancy advising elite clubs, insisted the Whites would still have to sell first-team players this summer, despite the exciting announcement.
Leeds stated last week (30 May) that Red Bull has acquired a minority ownership share in the club, providing significant monetary investment.
The Yorkshire giants reported a loss of £33.7 million in its most recent 2022-23 reports, following a loss of £34 million in 2021-22.
Under PSR, Leeds will be allowed to lose up to £61 million during a three-year term that ends in the 2024-25 season.
Despite Red Bull’s investment, Wyness believes Leeds must sell its first-team stars.
Fines and point deductions are possible penalties for exceeding that figure; Everton and Nottingham Forest were punished points this season for disobeying the rules.
Wyness told Football Insider’s Insider Track podcast: “Until we know the complete specifics, it’s difficult to say whether a lot of money moved hands in this Red Bull agreement.
“It appears to be equity, shirt sponsorship, and potentially another type of sponsorship.
“I’m not sure how much cash will make it to the bottom line.
“Leeds have some large sums due to other clubs for players, so they’re sailing quite close to the wind.
“As we’ve already noted, they’ll need to increase player sales to cover the PSR issue.
“I don’t believe this Red Bull contract will help them. It’s a larger systemic issue.
