Manchester United lost £2m last week despite fans returning to Old Trafford

Revealed: Manchester United lost £2m in the past week, despite fans returning to Old Trafford, with a huge operating loss blamed on player wages – and the club’s mounting debts angering fans.

  • Man United revealed a £2m-a-week loss in numbers last season
  • The Red Devils reported a net loss of £115.5m for the season due to player salaries
  • Their net debt also increased by £95.4 million amid anger from Glazer owners

Manchester United’s net debt rose to 95.4 million pounds to 514.9 million pounds over the past year, according to the club’s latest financial results.

The figure – up 22.7 per cent from £419.5m – contributed to a net loss of £115m and reflects the impact of the pandemic after United were forced to access £100m of the club’s revolving credit facility to offset the £200m cash losses. due to the covid crisis. The club’s total debt remained unchanged at nearly £600m.

The club’s total debt remains unchanged at nearly £600m, but they have lost around £2m per season despite fans returning to Old Trafford after the Covid lockdown.

Overall, United’s total revenue came to £583.2m from £494.1m as business returned to normal. Match revenues, in particular, rose from £7.1 million to £110.5 million after fans returned.

However, total operating expenses for the year also increased by 154.2 million pounds to 692.6 million pounds due to the increase in player wages following the signings of Cristiano Ronaldo, Jadon Sancho and Raphael Varane in the summer of 2021.

United also paid £24.7m in “exceptional items” that include compensation to former coaches Ole Gunnar Solskjaer and Ralf Rangnick as well as other members of the coaching staff.

United’s latest financial figures showed a massive 19.1 per cent increase in wages from £61.6m to £384.2m – as a result of last summer’s signings of Cristiano Ronaldo, Jadon Sancho and Raphael Varane.

Manchester United supporters protesting the ownership of the Glazer family will not be happy to hear a debt increase of 95.4 million pounds to 514.9 million pounds in the latest financial figures

The latest financial figures for Old Trafford showed a loss of more than 115 million pounds

The latest financial figures for Old Trafford showed a loss of more than 115 million pounds

This figure is the highest in the history of the Premier League, surpassing the previous figure set by Manchester City (£355m).

Richard Arnold, Manchester United CEO, said: “Our club’s primary mission is to win football matches and entertain our fans. Since our last earnings report, we have consolidated our men’s first team, completed a successful summer tour, and established a foundation to build from in the early stages of the 2022-23 season under the leadership of Our new director is Eric Ten Hag.

We also continued to develop the women’s team with the aim of strengthening our position among the leading clubs in the Women’s Premier League.

Ultimately, we know that Manchester United’s strength depends on the passion and loyalty of our fans, which is why we’ve made fan engagement a strategic priority.

“While there is a lot of work to be done, everyone at the club is aligned with a clear strategy for sustainable success on the pitch and a sustainable economic model for the mutual benefit of fans, shareholders and other stakeholders.”

He added: “It is clear that our performance on the pitch in finishing sixth in the Premier League last season fell short of our goals and expectations. In response, we have made important and necessary changes, including a new leadership of the men’s first team under Eric ten Hag and a strengthening The team during the summer transfer period.

United CEO Richard Arnold said the club was driven to achieve continued success after the numbers were revealed

United CEO Richard Arnold said the club was driven to achieve continued success after the numbers were revealed

Cliff Bate, United’s chief financial officer, expects the club’s financial position to remain healthy despite entering the Europa League this season.

“Our financial results for fiscal year 2022 reflect the recovery from the pandemic, a full return of fans and new business partnerships offset by increased investment in the team,” said Patty.

Our results were negatively impacted by the absence of a summer tour in July 2021, extraordinary material costs and increased utility costs, and the impact of a weaker sterling on our non-cash funding costs.

“Looking at the 2023 financial year, the club draws in revenue ranging from £580m to £600m despite participating in the Europa League.”

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