The EFL have approved the sale of Leeds United at a reported value of £170m, nearly two-thirds less than their £400m valuation had they not been relegated last month. Given our models predict that Leeds’ time in the Premier League over the next decade is likely to only fall by a third, a two-thirds ‘discount’ on valuation represents a steal (assuming the reported valuation is accurate). Had Leeds stayed up, we’d have expected them to play 8 of the next 10 years in the Premier League. Now, it’s probably 5 or 6.