Leeds United can come close to breaking into the Premier League elite by expanding Elland Road – but their commercial revenues will also need to skyrocket simultaneously.
That is according to finance expert Kieran Maguire, speaking exclusively to Football Insider about the latest on the club’s plans to catapult into the top flight’s top money bracket.
Leeds CEO Angus Kinnear told the Square Ball podcast on 9 August that the planning process for stadium expansion will start next year if Leeds avoid relegation this season.
The ambition is to boost capacity at the West Yorkshire stadium to 60,000 over a phased construction cycle.
The Athletic’s Phil Hay revealed last week that the club hope to increase revenue to more than £250million-per-year by expanding their stadium.
Maguire explained that increased capacity will make a big difference to closing the gap on the big guns but it will need to be accompanied by revenue growth in other key areas.
“It would help Leeds compete with the top six a lot better than at present,” the finance whizz told Football Insider.
“But, if you take a look at the top four they would still be some way ahead. Manchester United are at £600million, Liverpool are around half a billion and so are Man City.
“Spurs get £120million-a-year from their new stadium alone. It would allow Leeds to compete with the other ambitious clubs though.
“Revenue of £250million would allow them to compete with the likes of Villa, Everton and West Ham. Big stadiums do not necessarily turn into big bucks. You have to get the pricing right. Will it help? Yes. Will it help them breach the top six clubs? No.
Leeds United are not going to be having commercial revenues of £150million in the way that Man United, Liverpool and Man City have.
“That is a gap that can only be bridged over a longer period of time.”
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