Leeds United hopes of 'pure profit' £11m promotion sale boosted by major development

Earlier this week, it was announced by the Toffees that the Friedkin Group had agreed a deal in principle to takeover Farhad Moshiri's 94 per cent holding at Goodison Park.

Everton, who are set to move to new stadium at Bramley Moore Dock next season, have taken Leeds winger Harrison on loan for a second consecutive season, thanks to terms in his Elland Road deal permitting him to exercise a loan release clause provided Leeds remain outside the top flight.

Harrison signed a contract extension which included the loan exit clause months prior to United's relegation from the Premier League in May 2023 and may well have played his final game for the club, despite remaining contracted until the summer of 2028.

Everton currently face a battle to retain their own top flight status having failed to win any of their opening five league matches this season, which would jeopardise any potential Harrison purchase, however.

The 27-year-old has made seven appearances, including four Premier League starts, for the Toffees this term and remains a trusted member of the squad under manager Sean Dyche. Everton did not need to pursue a permanent deal for Harrison this past summer due to the exit clause remaining active, however if Leeds were to win promotion from the Championship during 2024/25, Dyche's side would need to purchase Harrison outright in order to retain his services.

Dan Friedkin's expected takeover would provide the club with a fresh cash injection, releasing the group's intentions in a joint statement on Everton's website: "We look forward to providing stability to the club, and sharing our vision for its future, including the completion of the new Everton Stadium at Bramley-Moore Dock."

Pending regulatory approval from the Premier League, Football Association, and Financial Conduct Authority, Friedkin Group will become the new custodians of Everton which could feasibly improve the club's financial standing and aid their ability to conduct incoming transfer deals which have been affected in recent years.

Any deal that sees Harrison join Everton on a permanent basis would likely be dictated on Leeds' own terms. That is because a permanent move would only come about if United were to be promoted, which strengthens any Championship club's negotiating position given the finances involved with Premier League membership and the fact Harrison's loan clause is expected to remain active so long as Leeds remain in the second tier.

This means Leeds would likely recoup at least a portion of the £11 million paid to Manchester City for Harrison in 2021, the vast majority of which is expected to have been amortised over the duration of his Elland Road contract. Harrison signed an initial three-year deal upon signing at Elland Road in 2021, therefore by the end of the 2024/25 accounting period, the bulk of his transfer should already have been accounted for.

Given Harrison's age, Premier League pedigree, as well as the player and Everton's likely desire to continue working together at a price cheaper than the cost of signing an alternative with comparable attributes and experience, Leeds would almost certainly earn a sum greater than the nominal sum still to be amortised.

For that reason, the Whites would effectively be able to post a 'pure profit', in PSR terms at least, in whichever set of accounts a Harrison sale is confirmed.