Swansea City receive £2m Leeds United cash injection but it's not that straightforward

Wales Online

23-04-2025

Swansea City receive £2m Leeds United cash injection but it's not that straightforward
The Swans have banked an extra injection of cash on the back of Leeds United's promotion back to the Premier League
Joel Piroe has been in red hot form for Leeds United this season
(Image: Leeds United via Getty Images )
Swansea City are set to bank £2m on the back of Leeds United's promotion back to the Premier League as part of a clause inserted in the sale of striker Joel Piroe.
The Dutchman sealed a move to Elland Road back in 2023, in a move believed to be worth an initial £10m. As part of the deal, the Swans stood to bank an extra £2m should the Yorkshire club secure promotion back to the Premier League at any point during Piroe's four-year contract at the club.
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Piroe's red hot run of form in front of goal saw him end the Championship season as the league's top scorer, with 19 goals to his name. He signed off by smashing in four goals in the 6-0 hammering of Stoke City on Monday, a result that helped confirm their return to the top flight, and it seems the Swans will be sharing at least some of the spoils of that success. Sign up to our Swansea City newsletter here.
However, it remains to be seen what sort of tangible impact, if any, that extra £2m will have, as Swansea gear up for a summer that could potentially define the course of the club for the next few years.
Certainly the early indications suggest it's unlikely to drastically alter their transfer plans, with City still facing stiff financial challenges, despite a recent change in ownership. As such, the prospect of that cash being pumped directly into any potential transfer kitty seems, at this stage, pretty unlikely.
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In announcing their latest set of accounts, the club recently revealed they had made a pre-tax loss of £15.2m for the year ending June 30 2024, a slight improvement on the £17.9m recorded for the previous year, but a result that has nevertheless sparked the need for further cost-cutting.
"If we continue to operate the way we are, our playing budget will have to decrease in line with the regulations," CEO Tom Gorringe told a recent fans' forum.
"That's why we talk about the changes to the business, the way we're operating and how we can be more efficient. All of those things are vital because they allow us to invest more money in the first team, which ultimately gives us a better chance of competing on the pitch."
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That message was echoed in a recent letter from co-owners Brett Cravatt and Jason Cohen earlier this month.
"Our staff across all parts of the business will be tasked with increasing revenues and reducing costs because that has a real and direct impact on our ability to be successful," they said.
While the extra cash injection clearly helps to ease some of the financial burden, it appears the impact on player recruitment will more than likely be pretty minimal.
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Nevertheless, there's an acceptance within the club's top brass that the club have to strengthen the squad, with director of football Richard Montague taking a leading role in using a data-based search for potential new recruits.
"We have a new scouting team," Montague said recently. "It's been a huge part of my job is understanding the processes we're using in order to try and unearth players. We are more restricted than we were because of the EU rules.
"Players sometimes need to meet a certain set of requirements. But the most important thing we need to be doing is to devote resources to help find players. There are scouts working very hard to watch players.
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"There are data process in place. Our job is to blend those worlds together to make judgements on how they can make us better. All of that work is going on behind the scenes." Sign up to the Swansea City WhatsApp service to get breaking news and top stories sent to your phone