Leeds United's commercial growth could accelerate following their return to the Premier League, according to sports finance expert Rob Wilson.
He said the club's large fanbase and the commercial expertise of owners 49ers Enterprises give Leeds scope to increase revenue. Wilson told Leeds Live that Leeds' current revenue does not necessarily reflect the size of the club's brand.
He said 49ers Enterprises' commercial expertise could help the club enter new markets through digital infrastructure and new sponsorship arrangements.
Leeds United’s Commercial Revenue Reached £58.1m in the Championship
Leeds generated £58.1 million in commercial revenue during the 2024/25 season, when they were still in the Championship. The figure was 34 per cent higher than the previous year and ranked ninth among English clubs.
Leeds' group turnover rose from £127.6 million to £136.8 million for the year ending June 30, 2025, while the club recorded a pre-tax loss of £49.1 million.
Those accounts cover the 2024/25 season, when Leeds secured promotion from the Championship, so they do not yet reflect a full season of Premier League revenue.
Wilson believes Leeds can grow their commercial revenue further as the financial benefits of their Premier League return begin to appear in future accounts.
“The 49ers bring a huge amount of commercial acumen to Leeds United,” Wilson told Leeds Live. “Perhaps even put it in a position where that commercial revenue starts to mirror the amounts that they're generating through their broadcast revenue.”
How 49ers Enterprises and Red Bull Are Shaping Leeds United’s Commercial Strategy
Leeds United Football Club Limited is wholly owned by 49ers Enterprises Global Football Group LLC. 49ers Enterprises assumed full ownership of Leeds United in July 2023 after the EFL approved the sale, with Paraag Marathe becoming chairman.
49ers Enterprises had already held a significant stake in Leeds before taking full control. 49ers Enterprises first invested in Leeds United in 2018 before increasing its stake in 2021 and eventually assuming full ownership in 2023.
Its involvement has included a focus on commercial opportunities, sponsorship and the club's wider business development.
Red Bull became one of Leeds United's major commercial partners in May 2024, when it signed a multi-year agreement to become the club's front-of-shirt partner.
The deal also made Red Bull Leeds' Exclusive Energy Drink Partner and included a minority ownership stake in the club.
Leeds said the deal would provide additional commercial revenue and capital investment, but did not disclose the value of the agreement or the size of Red Bull's stake.
The partnership began during Leeds' promotion season, when the club recorded £58.1 million in commercial revenue, up 34 per cent from the previous year. The accounts do not show how much came specifically from Red Bull.
Why Premier League Promotion Could Increase Leeds United’s Revenue
Leeds generated £189.2 million in revenue during the 2021/22 Premier League season, when they ranked 18th in Deloitte's Football Money League. That figure was substantially higher than the club's revenue in its subsequent Championship seasons.
Leeds ranked 27th in Deloitte's 2024 Football Money League, based on €207.8 million in revenue during the 2022/23 season. The figure is not directly comparable to the club's other revenue figures because Deloitte uses different reporting periods and currencies.
Promotion gives Leeds access to higher broadcast distributions and could create greater opportunities for commercial growth through increased exposure and sponsorship opportunities.
The return to the Premier League could also create opportunities for larger sponsorship, retail and licensing deals. Leeds has not published a forecast for how much its commercial income is expected to increase.
