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Second bid for Chris Wood turned down by Leeds United

The big Kiwi isn’t for sale

Bristol City v Leeds United - Sky Bet Championship Photo by Bryn Lennon/Getty Images

The Yorkshire Evening Post is reporting that Leeds United have turned down yet another bid for Chris Wood from Burnley.

After Burnley submitted a terrible bid of £12 million that was rejected over the weekend, they apparently responded with another larger bid that was once again rejected.

A lot of fans have entertained the idea that Leeds should sell high on Chris Wood, with the thinking that you should cash in on a transfer when ridiculous amounts of money start getting tossed around. This kind of thinking is fine when the team is entering into the transfer window, because if a player wants to go or if you want to sell high on a player, you do it right away so you can plan ahead for the future.

Andrea Radrizzani has invested a great deal of money into Leeds United, and he wants to take this club to the Premier League. Selling Wood now, with no plan and very little time to replace him, is exactly the wrong kind of move to make right now if promotion is your goal. The Premier League brings £100 million in television revenue, and with Leeds one of the teams that are least dependent on TV revenue in the Championship, the value of Leeds would likely at least double, if not triple, once the team is in the Premier League. Championship teams lose money, but Premier League teams make money.

Selling Wood is a short term move that ignores the future, exactly what Massimo Cellino used to get heavily criticized for doing. Gaining promotion is worth at least £100 million in revenue and possibly worth more in equity. An 80% stake in Southampton was just sold for £210 million. Leeds would be worth AT LEAST as much as Southampton in the Premier League, meaning that the £100 million or so that Radrizzani spent on Leeds United would turn around and double or triple overnight. So imagine that there is a 35% chance that Leeds go up with Wood in the squad, and a 5% chance if he isn’t in the squad. If Leeds is worth £300 million in the top division, then Wood is worth £90 million to Leeds. So that “crazy” number that Christiansen quoted might not actually be that crazy, now is it?