EFL Analysis has learnt what Middlesbrough intends to do with the money they received for Emmanuel Latte Lath.
The Teessiders experienced a difficult 2024/25 season, which resulted in their lowest finish under Michael Carrick.
Carrick’s future remains uncertain following such a poor year, with questions still being raised about where it all went wrong.
Middlesbrough struggled with injuries all the time, and losing Ben Doak early in 2025 didn’t help matters. Boro also sold Emmanuel Latte Lath at the close of the January transfer window, replacing the Ivorian with Kelechi Iheanacho, as recommended by Jonny Evans.
It was a transaction that did not work out, but Boro fans may be hopeful that now that the summer transfer market opens later this week, their team will go out and sign a fresh, permanent successor for Latte Lath.
How Middlesbrough uses Emmanuel Latte Lath transfer fee
On that front, we chatted with finance expert Adam Williams to find out what Middlesbrough plans to do with the striker’s £22.5 million price. He told us that Middlesbrough’s operational loss was £29 million in the previous fiscal year and £28 million the year before.
When player sales are taken into account, the figures are substantially lower: £12 million and £6 million, respectively. On the one hand, this indicates that they have no concerns with PSR.
On the other hand, it demonstrates how heavily they rely on player sales to keep the bottom line from going too far into the negative. The Latte Lath sale for £22.5 million will most likely fulfil that role again this season.
“Steve Gibson has put almost £250 million in, and after converting nearly £150 million in debt into equity last season, I doubt he has any imminent ambitions to put further money into the club out of his own pocket. And, to be honest, it is understandable.
“It does, however, mean that the club will have to wash its own face as far as the transfer market is concerned. That means that the Latte Lath cash will have been set aside for operating expenses, such as wages and other day-to-day charges.
“Boro’s wage bill was 97% of turnover last year, which is actually quite reasonable by Championship standards.” However, if Gibson is unwilling to invest additional money in the club through shares or loans, player sales will be required to meet expenditure demands.
“On a net basis, I think it will basically be a break-even window for Boro, perhaps with a margin of error of £2-3m but not much beyond that.”
Middlesbrough will sell players this summer.
As Williams indicated, Boro will most likely have to sell players to cover their spending.
On this front, we reported earlier this week that Hayden Hackney is the most likely mega-money sale.
Given that Hackney is an academy product, any money made from his sale would be pure profit if he left.
More sales are expected at the Riverside, although Middlesbrough hopes to keep Finn Azaz.
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