Leeds United to spend every last penny to stay in Premier League

Club chairman Paraag Marathe says Leeds will push spending limits under Premier League financial rules to secure top-flight survival.

Leeds United players pose with the Sky Bet Championship trophy after their 2-1 win over Plymouth Argyle, securing the league title and promotion to the Premier League at Home Park on May 3, 2025, in Plymouth, England. Photo by Harry Trump/Getty Images

By Anna Fadiah and Hayu Andini

Leeds United chair Paraag Marathe has pledged to spend “every last penny” allowed under Premier League financial rules to ensure the newly promoted side remains in England’s top football division. After clinching the Championship title with a victory over Plymouth Argyle, Leeds is determined not to become another relegation statistic next season.

Marathe, who also serves as president of 49ers Enterprises — the investment arm of the NFL’s San Francisco 49ers — said Leeds United will push spending “to the limits” to build a squad capable of staying in the Premier League. He emphasized that all allowable financial resources will be directed toward strengthening the team.

“Whatever they will let us spend, we’ll spend,” Marathe said. “I can comfortably say that we are going to spend the very last penny that we can.”

Preparing for Premier League survival

Under the Premier League’s financial regulations, clubs can face penalties if they post losses exceeding £105 million over a rolling three-year period. Despite these constraints, Marathe said Leeds will secure substantial funds from shareholders — including energy drink giant Red Bull and property investor Peter Lowy — to finance squad upgrades.

“It’s what we need to go full tilt for the next three years,” he said.

Marathe’s strategy reflects the urgency of Leeds United’s situation. In the past two seasons, all six promoted teams, including Ipswich Town, Leicester City, and Southampton, have been relegated the following year. According to Opta data, those teams are projected to average only 20.5 points this season — the lowest figure ever for relegated clubs in Premier League history.

A club with scale and ambition

Despite those ominous trends, Marathe believes Leeds has a competitive edge. Elland Road, the club’s iconic home stadium, drew average crowds of over 36,000 during the Championship season — a figure that would place it among the top half of Premier League attendances.

“With all due respect to the other clubs, I think we’re different,” Marathe said. “We have an opportunity and we have scale that nobody else has.”

He acknowledged the difficulty of avoiding relegation but expressed confidence in the club’s structure and fan base. “There’s an argument to be made that there’s a widening gap between the Premier League and the Championship,” he said. “But we’re not under any illusions. We know it’s going to be tough.”

Stadium expansion and future plans

To capitalize on growing fan interest, Leeds United — under 49ers Enterprises — is planning a major renovation of Elland Road. The project includes adding 20,000 seats, which would help accommodate the nearly 30,000 supporters currently on the season ticket waiting list. Marathe aims to complete the expansion before the 2028/29 campaign.

The San Francisco 49ers’ investment group officially took control of Leeds United in 2023, having first acquired a stake in 2018. Since then, they have broadened their football ambitions, with ongoing talks to acquire a controlling share in Scottish club Rangers FC.

US owners rising across English football

Leeds’ Premier League return comes as American ownership continues to reshape the English football landscape. Of the 20 Premier League clubs next season, 12 will have US-based ownership or investors.

Alongside Leeds United, Burnley — another US-owned team — secured automatic promotion by finishing second in the Championship. In the top tier, Liverpool, owned by Fenway Sports Group, captured the league title with four games to spare. Meanwhile, US investors celebrated success in the lower divisions: Birmingham City, backed by Knighthead Capital, won League One, edging out Wrexham, the club owned by actors Ryan Reynolds and Rob McElhenney.

Revenue boost reinvested into squad

Leeds United’s promotion guarantees a significant increase in income. Even the club finishing bottom of the Premier League next season will receive over £100 million in media rights payments. According to Marathe, Leeds will reinvest “every single penny” of this windfall into improving the playing squad.

“We are not taking any dividends out of the club, nor will we ever,” he said. “This is just about trying to make money to put it right back in, get us as competitive as we can be.”

His comments come as reassurance to fans who fear the club could repeat past mistakes, such as underinvestment or short-term planning, which led to previous relegations. Marathe stressed that 49ers Enterprises is committed to building long-term success, not chasing immediate profits.

A determined approach amid Premier League realities

With massive broadcast revenues, global audiences, and heightened competition, the Premier League is both an opportunity and a challenge for newly promoted clubs. Survival often hinges on balancing financial prudence with aggressive investment. Marathe’s promise to spend “every last penny” within the legal boundaries signals a bold, determined strategy.

Yet the club’s leadership remains aware that spending alone does not guarantee safety. Team chemistry, smart recruitment, coaching stability, and adaptability all play crucial roles. With the summer transfer window approaching, all eyes will be on Leeds United’s moves in the market.

Marathe, who has more than 20 years of experience in sports management, is betting that the club’s ownership structure, passionate supporters, and Premier League-ready infrastructure can tilt the odds in their favor.

“We're not here to just participate,” he said. “We're here to compete — and compete hard.”