Leeds set for £15m cash boost

Leeds are set for a multi-million pound cash injection this week less than a fortnight after being saved from administration.

The relegation-threatened club are to announce a new kit-sponsorship deal with Italian sportswear firm Diadora, understood to be worth at least £15m (€22m) although clauses could push the figure higher.

With Leeds’ five-year arrangement with Nike ending this summer and in the wake of their decision not to renew the deal, the Whites have been in negotiations with Diadora for some time.

Discussions continued this morning for although the basis of the contract, likely to be five years, has been agreed, there remain a few details which need to be resolved.

“Negotiations are at an advanced stage and there are now just one or two minor points we are working on, but we’re hopeful of announcing the deal later this week,” said David Richmond, Leeds’ marketing and commercial director.

Providing all goes to plan and there are no late hitches, the club are looking at a launch date of early June.

Meanwhile, agent Willie McKay is due to discuss with Leeds their plans regarding four of his players who are on loan at Elland Road, namely Salomon Olembe, Didier Domi, Lamine Sakho and Zoumana Camara.

Leeds have option-to-buy clauses on the quartet who all joined the club last summer on season-long deals. However, it is almost certain they will be released at the end of the campaign.

Geoffrey Richmond, currently working as an unpaid advisor to Leeds, recently stated the club will save £11m (€16.59m) in wages once the loan players – which include Jermaine Pennant and Steve Caldwell – and out-of-contract stars David Batty, Jason Wilcox, Michael Bridges and Lucas Radebe are off the books.

Only Cameroon international midfielder Olembe, available for just over £2m (€3m), is attracting any attention as McKay confirmed: “There is interest from a few clubs in Salomon, but not in the others as yet.

“It may be they will have to return to their clubs in the summer, although Didier has recently been playing for Leeds and doing well.

“There is the option-to-buy clause and it could be Leeds may want to extend his loan deal for another season. But I’m sure Didier would want something much longer.

“I know Salomon is keen to stay in England, and there is a chance as Charlton, Bolton, Blackburn and Celtic have all been watching him.”