Leeds United miss out on £250,000 January transfer pot

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Leeds United have narrowly missed out on a January transfer pot of £250,000 - just 24 hours after being hit with a Football League embargo.

United were short-listed for the Sky Bet-sponsored prize despite learning yesterday that they would receive a January embargo as punishment for a financial loss of £23m in the 2013-14 season.

But in an ironic development this afternoon, the £250,000 prize went to Nottingham Forest - one of three Championship clubs who breached Financial Fair Play rules and will have their transfers heavily restricted next month.

Regulations governing Football League embargoes contain major loopholes which will potentially allow Leeds and Forest to sign new players regardless.

Neither club will be allowed to pay transfer or loans fees in January but the Football League has confirmed that the £250,000 transfer pot can be spent on players’ wages.

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NEW FACE: Japan's Yosuke Ideguchi against North Korea earlier this month. Picture: Masashi Hara/Getty Images.

Video: Leeds United start January dealings early by signing midfielder Yosuke Ideguchi