Leeds United are aware their hopes of Premier League survival this season could live and die by the success of their summer transfer dealings.
That is why as we enter the final days of the window, following an embarrassing cup exit, a 5-0 'welcome back' shellacking by Arsenal and the subsequent supporter uproar, it is the club who know better than anyone they still have work to do.
These days, the back offices of Elland Road brim with corporate expertise and Silicon Valley success stories. The club lifted itself from the Championship back to the Premier League in the spring, led by Daniel Farke and backed by chairman Paraag Marathe.
Leeds United have signed Dominic Calvert-Lewin on a free transfer this summer
Marathe spoke ahead of Leeds' season opener against Everton, which isn't a regular occurrence but was reflective of the magnitude of the match. Last time Leeds were promoted, the television set was the closest most fans got to a matchday experience during the COVID-affected 2020-21 campaign. Supporters were shut out as Marcelo Bielsa's side gave Premier League champions Liverpool a bloody nose in a 4-3 Anfield defeat. Seven days later, Leeds were on the right side of the same scoreline at home to Fulham, once again behind closed doors.
Supporters, as is their right, can choose to level certain accusations at the club's American ownership, but it would not be true to say they don't 'get' Leeds. The 49ers did their homework when choosing to invest in the club and have bought into what it means to 'be Leeds', although a proposal to relocate die-hard home supporters in revamped Elland Road plans is one of the rare instances where they may need to reconsider.
Top executives have relocated their families, swapping Palo Alto for (North) Yorkshire, an investor WhatsApp group for the club's minority shareholders, who make up the 49ers Enterprises consortium, has been set up to communicate decisions which are being made at the upper levels and those plans to expand Elland Road are in full swing with groundwork scheduled to begin next month.
Marathe is keen to know what is being said and by whom, in the media, in press conferences and amongst supporters - it is how he keeps his finger on the pulse from his San Francisco base, whilst juggling president responsibilities with ownership group 49ers Enterprises and his newly-christened vice chairmanship at Rangers.
Ahead of the summer transfer window, the chairman outlined his aim, to survive and compete in the top flight by going as close to the financial limits that English football's Profitability and Sustainability Rules (PSR) will allow.
The window began well, with intent. Jaka Bijol, an imposing, Slovenian international defender with vast Serie A experience arrived with much of the work clearly done in the months prior to promotion. He was their first choice centre-back target. Gabriel Gudmundsson's �10 million arrival from French club Lille meant Leeds had signed their number one left-back target, too. Sebastiaan Bornauw bulked out, figuratively and literally, the Whites' defensive options, Sean Longstaff brought depth and legs to the midfield while Lyon goalkeeper Lucas Perri's capture addressed what had been for some time a problem position.
Anton Stach, Noah Okafor and James Justin have also signed permanent deals with the club for a combined sum of close to �45 million.
At the time of writing, Leeds have spent roughly �100m on 10 signings, recouping a tenth of that from Rasmus Kristensen, Diogo Monteiro and Sam Greenwood's permanent exits.
At the time of writing, Leeds have added two centre-forwards, both on free transfers, both of whom have what Farke might describe as 'an injury CV'. Lukas Nmecha and Dominic Calvert-Lewin's signings represent calculated risks - if they both hit double figures in the Premier League this season, staying fit throughout, it will be heralded as the summer's shrewdest business.
This is where optics return to the conversation, because if Nmecha, Calvert-Lewin and incumbent No. 9 Joel Piroe do not fire Leeds to safety, it will be very easy for columnists, fans and talk radio presenters to accuse Leeds of spending their budget too heavily on the rearguard, or trying to do it on the cheap.
When news of Nmecha's imminent arrival broke via the Yorkshire Evening Post in mid-June, there was more than a feeling that the club were not done in the striker market.
Almost two months passed before Leeds' next striker capture, leading skeptics to believe Calvert-Lewin may not have been a top target but with time running out and moves happening elsewhere, the opportunity could not be passed up.
Against Calvert-Lewin's former club in their first game of the new season, Leeds were in control for large parts.
Everton had little answer to Leeds' dominance of the ball and were subsequently restricted to a third of their hosts' tally of shots on goal. Leeds created plenty, but were lacking ruthlessness.
Nmecha's 84th-minute penalty kick ensured of all three points and Elland Road exhaled as one. Points on the board after the first week of the season was essential, considering last season's relegated trio waited months for theirs. But, Leeds were profligate, registering 21 shots against the Toffees, only three of which hit the target.
Arsenal's demolition job at the Emirates' Stadium highlighted, underlined and embossed the chasm between the Premier League and the Championship. Calvert-Lewin's absence from the squad, as Farke admitted he was not yet up to speed, and Nmecha's absence from the starting line-up in a game where Leeds would surely need to make the ball stick in Arsenal's half, was cause for concern.
Piroe may have claimed last season's golden boot in the second tier, but on numerous occasions, particularly away from home, was found to be less than effective in games where Leeds saw less of the ball. His nine passes and 12 touches at the Emirates suggests that will only be exacerbated in the top flight, although admittedly his first test on the road came against one of the best out-of-possession sides in world football.
Leeds' Carabao Cup exit to a team of Sheffield Wednesday youth team players was as anomalous as it was 'Leedsy'. Calvert-Lewin was introduced for a half hour, missing two close-range opportunities before blazing his spot kick in the subsequent shoot-out over the crossbar. It was a debut to forget but unlikely to be repeated. The 28-year-old's near-post runs, positioning inside the 18-yard box and general functionality means if available for large periods, he'll most likely make good on the club's investment in him.
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At Hillsborough, Farke reiterated his desire to sign more offensive players before the window closes, although that is likely to encompass a return for Manor Solomon, last season's loanee who has spent a portion of Tottenham Hotspur's pre-season out injured, rather than adding another centre-forward, but never say never.
Attacking reinforcements, and perhaps a few more exits, before the September 1 deadline would represent a good window for the Elland Road club.
Would it have been right to spend a large chunk of the budget on a small number of attackers earlier in the window and hope for the best in other departments?
Probably not, it's a team game.
The strength of the Premier League, coupled with financial controls mean you're 'damned if you do, damned if you don't' with regard to transfer budgets. In Leeds' case, legacy wages and historic PSR issues will only allow theirs to stretch so far.
The optics of Leeds finishing their summer window after promotion having signed two strikers, both on free transfers, and upwards of �100m on the rest of the squad, is high risk, high reward.
Premier League survival, spearheaded by a Piroe-Nmecha-Calvert-Lewin triumvirate would quite rightfully be hailed as an example of great scouting, having identified specific profiles needed to diversify the team's attack and executed cheaply.
If it doesn't pay off, naturally questions will be asked, particularly if, in May, Elland Road is experiencing that sinking feeling again.
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