Leeds meltdown warning to Premiership rivals
The PFA believe Leeds' announcement of record losses has proved virtually no club is safe in today's depressed financial climate.
They insisted that even in the comfort zone of the top-flight, clubs have nowhere to hide from simple mismanagement.
During a financially troubled time for many in football, the PFA's deputy chief executive, Mick McGuire, has been instrumental in helping to smooth the financial problems of more than 40 clubs over the last year.
He says there are clear signs that the same problems which afflicted relegated clubs are now taking hold in places where the drop was still considered a highly unlikely outcome.
McGuire said: "There is no doubt that this has sounded a major warning bell, that even in the Premier League it is essential to manage your finances appropriately.
"When you looked deeply into the way the club was being run, you expected problems at Leeds.
"Now it is crucial that Leeds stay in the Premiership. If Leeds go down, I fear for them.
"I believe they are now making the right moves to get through this but it is going to take more than one year of hurting."
Despite the misgivings of some supporters, McGuire believed the signs were that Leeds chairman Professor John McKenzie is going the right way about solving the club's towering problems.
He pointed to the decision to make a number of long-term loan signings this summer rather than gambling their future on more highly-paid stars to get them out of their hole.
McGuire said that ultimately it was down to those players and the manager to ensure brighter times at Elland Road.
McGuire added: "I have seen at clubs like Leicester and Ipswich what administration or the threat of administration can do to a team.
"There is no doubt about it it can have a galvanising effect on the team, and I believe they have the right manager to get them battling."
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