Leeds United news: Adam Pope on summer transfer business

As I was walking into the office a smiling Leeds United supporter shouted “Any transfer news Popey?” And so it starts.

The window is ajar, well until 7pm on 10 June at least, when it slams shut before flying open again on 16 June until whatever alternative onomatopoeia can be found to describe the sound of it being forcibly closed again on 1 September at 19:00 BST.

By that time Leeds will have been linked with a host of players which would have the pen running out on Santa’s Christmas wish list. It’s classic economics: The Problem of Scarcity – Unlimited Wants and Finite Resources.

Leeds will strengthen the squad to survive and then hopefully thrive in the Premier League. Fans have felt emboldened by reports that the Elland Road board are raising £120m from investors by a new share issue. Their hopes that all of that and more will be spent on players needs to be tempered though because there is a stadium redevelopment to be funded simultaneously.

A further dash of realism was added by renowned football finance expert Kieran Maguire who told the BBC that Profit and Sustainability Rules (PSR) will require United “to box clever in terms of recruitment” and that “spending £100m is just about feasible.” Remember also that last year’s revenue from player trading has to be be balanced against the £142m still owed for previous transfers.

Goalkeeper is a key area it seems. Illan Meslier remains under contract for another year even if his credit with much of the fanbase has expired. Deposed by Karl Darlow for the run-in last season, it could be time for Meslier, 25, to move on. Chelsea’s Djorde Petrovic is one name that is circulating with Blues boss Enzo Maresca keen on taking Meslier’s compatriot Mike Maignan from AC Milan, which could precipitate an exit for the Serbia international from Stamford Bridge. But the Serie A outfit and Leeds’ Premier League rivals AFC Bournemouth are also understood to be interested in Petrovic, who spent last season on loan at French League 1 side Strasbourg.

You can make a case that Leeds need signings in virtually every position and to help improve leverage in the market there may be an opportunity to raise funds – bar the obvious sale of an established first teamer – by moving on youth players who have low amortised values, because little or no transfer fee was paid for them initially. Whatever price they are then sold for can be counted as almost ‘pure profit’ in the accounts (as was the case for Archie Gray’s £40m sale to Spurs for example.)

In that category fall several candidates such as Mateo Joseph, who the club rejected a £10m offer for from La Liga’s Real Betis in January. He has been linked with Strasbourg. Joseph, 21, began last season as Leeds’ main striker and although he performed well for Spain’s under 21s he did not make the progress envisaged over the entire campaign. Returning from loan spells are Joe Gelhardt, Sam Greenwood and Darko Gyabi, who all remain under contract and therefore have some value. Their futures may lie elsewhere, but, it is difficult to believe the combined fees fetched for them would help to significantly add to United’s spending power and counteract the £61m loss the club is permitted to make under PSR this year as it stands.

Winger Jack Harrison in particular is interesting. Having had two seasons on loan at Everton he now has 170 Premier League appearances under his belt. Harrison, 28, has not rediscovered his peak seen under Marcelo Bielsa, and, will require a tough skin to convince those that believe he should not see out the remaining three years of his deal at Elland Road after leaving the club post relegation in 2023. But he’s a ready made winger, already on the books and is naturally left-footed in a position now vacated by Manor Solomon’s return to Spurs.

So all eyes turn to managing director Robbie Evans, sporting director Adam Underwood and manager Daniel Farke as to how a competitive squad is created in time for mid August. The English philosopher and logician Carveth Read is credited with the quote “it is better to be vaguely right than precisely wrong.” When it comes to the less than exact science of recruitment this summer United chairman Paraag Marathe is taking the sentiment further: “You’ve got to nail your transfers,” he told us after sealing the Championship title.

The margin for error by the management team is slim but the weight of expectation, as always, will be enough to break the scales!

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