Doing a Leeds

"Doing a Leeds" is an English football phrase which is synonymous with the potentially dire consequences for domestic clubs in financial mismanagement. The phrase arose after the rapid decline of Premier League club Leeds United F.C., who invested heavily in the late 1990s and early 2000s to attain domestic and lucrative European success, which was capped by high profile appearances in the semi-finals of the UEFA Cup and UEFA Champions League. However, in the process, the club built up large debts, and suffered financial meltdown after failing to continue to qualify for the competition, subsequently dropping down two levels of the football pyramid, into the third tier, Football League One.

Since the creation of the Premier League, a total of 24 of its former clubs have been relegated to League One, of which seven fell down further into the fourth tier (Football League Two) and one of these further into the fifth tier (the National League). Because they had never previously experienced relegation to League One or its predecessors, Leeds were the object of careful observation by media and derision by rival fans.