Malmo CEO Niclas Carlnen has confirmed to the Swedish media his club is set to make a loss for the financial year, despite selling Pawel Cibicki to Leeds United last month.

The 23 year old joined the Championship side towards the end of the last window for a fee in the region of 20m Krona (around £1.9m).

Speaking to Expressen, Carlnen has revealed Malmo are expected to report a loss of 10m Krona after investing heavily in players during the last financial year: “I think we’ll end up ten million minus.”

Expressen report even though Cibicki joining Leeds United in the summer helped to balance the books, Malmo are counting the cost of bringing in players to compete in the Champions League.

However, the Swedish side failed to qualify for this season’s competition, and are subsequently paying the price.

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Carlnen also confirmed earlier in the year that some Malmo players were previously sold for cheap transfer fees, and therefore this didn’t help their financial situation.

Cibicki was one of a number new of attacking players to arrive at Elland Road in the summer, but the young forward is still waiting to make his debut for the club. The Swede has been part of Leeds United’s match day squad for the past two games, but was an unused substitute in the wins against Burton and Birmingham City.