Leeds move to top of loss league

STRUGGLING Premiership club Leeds United will post the biggest ever loss in British football history this week. Analysts expect a pre-tax deficit for the year to June of about £50m.

It means Leeds will have run up a staggering £85m in losses over the past two years after a series of ill-fated forays into the transfer market failed to bring success on the pitch.

The slide in the club's fortunes has seen the departure of successive managers David O'Leary and Terry Venables and the exit of former chairman Peter Ridsdale.

Only non-executive Allan Leighton, who chairs the Post Office and retail group Bhs, has survived the turmoil.

Investors have seen the value of their shares plunge from 80p seven years ago to 2.63p, valuing Leeds at just £10m.

Star players such as Rio Ferdinand, Harry Kewell, Jonathan Woodgate, Lee Bowyer and Robbie Fowler have been sold to reduce the sky-high wage bill, but that is unlikely to have made much impact on the club's debt. It was last reported at £78.9m, but may have ballooned to £100m.

One analyst said: 'In many ways it might be better if Leeds were relegated this year, sacked all its expensive stars and started again on a more realistic footing.'

Questions are also likely to be asked about the future of midfielder Jody Morris, who was arrested for the second time last week in connection with two alleged serious sexual assaults.

On Friday, he was given ten days' leave of absence by the club.