Leeds have an £87m problem that needs fixing

Is European football on the horizon for Leeds United? Quite possibly.

They have started the new campaign in rip-roaring fashion and despite losing to Arsenal last weekend, Elland Road is still very much engulfed by a wave of positivity.

Prior to Saturday’s loss, Leeds were fifth in the table and had not lost a single game all season. They’re putting in some mighty fine performances.

What’s been the catalyst? Well, Daniel Farke’s decision to move to a three man defensive shape just before Christmas last year helped, as has their recruitment since becoming a Premier League team again.

Where Leeds have got things spot on in the transfer market

When Leeds were last promoted during the days of Marcelo Bielsa, they did complete some eye-catching business.

Elland Road is yet to see a better player than Raphinha since he departed for Barcelona and became one of the world’s best forwards.

Alas, for every Raphinha, there were three or four duds. The likes of Weston McKennie, Marc Roca, Tyler Adams, Diego Llorente and Robin Koch are memories of a rollercoaster period for Leeds.

Now, however, operations behind the scenes are a lot more efficient. Angus Kinnear, Victor Orta and Andrea Radrizzani are no longer at the helm. Instead, they’re buoyed by the 49ers Enterprises and their investment.

Sporting Director Adam Underwood has collaborated with Farke incredibly well to make a number of top-class signings that are putting the Whites in contention for a place in Europe.

Their strategy has been to buy physical players, to buy players who could compete with the rigours of the Premier League. It’s the most testing division in the world for a reason.

In the summer of 2025, the arrival of 6 foot 2 Dominic Calvert-Lewin was met with scepticism but he has been a revelation, scoring 19 times in 47 games. Since last November, only Erling Haaland has netted more Premier League goals.

Also arriving last summer was 6 foot 3 Slovenian defender Jaka Bijol and 6 foot 4 German Anton Stach.

This summer saw more of the same. James Trafford may have been at fault for Riccardo Calafiori’s equaliser at the weekend but he has largely been a very strong signing. Standing at 6 foot 6, he’s a strapping figure between the sticks.

REUTERS/Hannah Mckay

Likewise, 6 foot 4 Bosnian Tarik Muharemovic is a massive presence at the back. Farke has filled his team with a bunch of basketball players and is reaping the rewards.

However, their track record over the last year hasn’t been flawless.

Where Leeds still need to improve in the transfer market

The gap between the biggest teams in the country and a team like Leeds is staggering.

Sure, Arsenal have Mikel Arteta at the reins and they have deeper pockets. Their commercial revenue and prize money far exceeds what Leeds could even dream of right now.

REUTERS/Hannah Mckay

However, it does feel like the gap between what two sides of this stature can afford in the transfer market is growing further apart. Arsenal’s starting lineup against Leeds at the weekend cost around £450m. Leeds’? Well, that cost them about £152m. The difference is staggering.

However, the problem for Farke becomes even greater when you look at how much each bench cost.

Bruno Guimaraes, a £75m player, scored the winning goal. He was joined by £63m Viktor Gyokeres and £67.5m Eberechi Eze. £60m Martin Zubimendi also sat alongside them.

The cost of Leeds’ substitutes bench? Just £87m. It was ultimately what proved to be the difference between the two teams on Saturday lunchtime.

While Arsenal were able to call upon one of the best midfielders in the world, Leeds were calling upon two free transfers in the form of Harry Wilson and Lukas Nmecha. They also called upon loanee Jean-Matteo Bahoya.

Now, if there is one thing that could trip Leeds up in their bid to secure European football for the first time in two decades, it will be their lack of depth.

Action Images via Reuters/Jason Cairnduff

The starting XI is really strong but the bench simply doesn’t have enough about it. In Sean Longstaff and Ilia Gruev, Farke has two midfielders he does not trust.

As for his forward options, he’s having to rely on Brenden Aaronson – a player who has proven he’s not up to the task over a number of years. Sadly for the manager, Wilson and Bahoya haven’t hit the ground running as swiftly as anticipated. They are yet to score a single goal in Leeds colours.

As a result, the task for Underwood and Co in January is simple; they need to bring more quality depth to Elland Road. It could well be the difference between finishing mid-table or establishing themselves as a top half side.