Leeds United, Leicester, and Southampton were all relegated from the Premier League last season, and all are in various states of financial turmoil. 

While Leeds United are, only just, set to comply with PSR and FFP rules, Leicester may not be so lucky having spent large sums of money in the years prior to relegation.

Of the three clubs, Southampton are the most stable. FFP will of course limit the amount of money they’re able to spend, but they’ve been more frugal in the past than the other two clubs.

Players have come and gone over the course of the season. Here we compare Leeds United’s net spend to their two promotion rivals.

Southampton: Net Spend – +£142 million

Southampton. Credit: Imago Images

The South Coast club have been an outlier amongst Premier League clubs for some time now. Their data-driven approach has seen them invest in youth, signing players from the academies of larger clubs to help generate funds by selling them on.

Unfortunately for the Saints, their inexperience caught up to them in 2022/23. Since then, they’ve tightened the purse strings, and some big sales have helped them navigate potentially choppy financial waters.

Romeo Lavia made the switch to Chelsea for £58 million, Tino Livramento joined Newcastle United for around £40 million, and James Ward-Prowse left for West Ham, earning the club £30 million.

In terms of incoming, their only permanent transfers were a £10.5 million move for Shae Charles from Manchester City and the £8 million transfer of Ross Stewart from Sunderland