Leeds United report losses of £9.8m for the 2015/16 financial year

Player trading accounted for some of the increased losses at Elland Road

Leeds United have reported losses of £9.8m for the 2015/16 financial year, an increase of more than £6m being explained by player trading results.

The Sky Bet Championship side saw their losses increase from £2.3m in the previous financial year but they reported player trading profits decreased from £7m to £2.8m.

Turnover at Elland Road increased by £5.7m to £30.1m while gross profits generated during the financial year increased by £4.3m to £24.7m.

Net liabilities at June 30, 2016 were £252,000, compared to net assets of £8.6m a year earlier.

Leeds also confirmed that £5m of shares were issued to Eleonora Sport Limited, the family trust owned by Massimo Cellino.