JUST IN: Leeds United could miss out on new Premier League deal

Simon Jordan has namechecked Leeds United and Leicester today when the argument of parachute payments from the Premier League emerged.

After the Whites were relegated from the Premier League last season, Jim White shared they received around £44million to help them adjust to the Championship.

But according to Sky News, the Premier League has summoned a “emergency” meeting to talk about allocating money more fairly across the football pyramid.

Jordan stated during a live interview on talkSPORT on Thursday, February 22, at 11:12 a.m.: “The fact that Leeds United, a wealthy team with large crowds and support, and Leicester, the Premier League champions, are able to manage their wage book while selling some of their assets.”

It’s not a dispute over parachute benefits. It’s actually a dispute over how money is distributed within the pyramid.

“If you increase the distribution so everybody gets more money in the Championship, League One and League Two, then of course, you can reduce the parachute payment because the disparity isn’t so wide.”

Leeds United could miss out on new Premier League deal

Leeds may lose out on a portion of the £925 million windfall spread among the four divisions if the new agreement is approved; instead, the club’s chances of winning promotion to the Premier League will increase significantly.

Leeds would not want the Yorkshire team to leave the Championship in order for them to gain anything from this transaction.

Leeds must win promotion before any modifications are made, taking into account Jordan’s key argument that the parachute payments could be decreased if the distribution throughout the Championship, League One, and League Two were more equitable.

Leeds is in a great position to accomplish that goal before any modifications are made to their current parachute payments, sitting in second place in the division, two points above Southampton, equal with Ipswich Town on points, and nine points behind league leaders Leicester.

Of course, it is unlikely that their funds would be changed, even if they failed to get promoted and a new deal was put in place, as it would be highly unfair to strip them of promised money immediately.

Otherwise, Leeds and the 49ers would be in a very tricky situation.