Manchester United posted losses of £115.5m last season, the club’s quarterly financial figures have revealed, with debt soaring to £515m.
- Net loss but overall revenue up
- Increase of 18% on last year post-Covid
- £95.4m increase in debt
WHAT HAPPENED? Man Utd made a net loss of £115.5 million (€180m/$175m) in 2021-22 and their net debt now stands at an eye-watering £514.9m (€590m/$580m) – an increase of almost £100m (€115m/$110m). Overall revenue was actually up 18% on the previous year to £583.2m (€670m/$660), reflecting the return to full stadiums and United’s enduring commercial might despite the pandemic.
WHAT THEY SAID: Following the publication of United’s latest financial figures, CEO Richard Arnold said: “Since our last earnings report, we have strengthened our men’s first team squad, completed a successful summer tour, and established a foundation to build from in the early stages of the 2022/23 season under our new manager Erik ten Hag.
“While there is a lot more work to do, everyone at the club is aligned on a clear strategy to deliver sustained success on the pitch and a sustainable economic model off it, to the mutual benefit of fans, shareholders, and other stakeholders.”
THE BIGGER PICTURE: The coronavirus pandemic has evidently taken its toll on Man Utd’s finances, but they were still able to spend big in the summer, splashing £220m (€250m/$250m) on the likes of Antony, Lisandro Martinez and Casemiro.
IN THREE PHOTOS:
WHAT NEXT FOR MAN UTD? After winning four on the bounce, Ten Hag’s new-look side will face their toughest test yet after the international break when they take on rivals Man City at the Etihad Stadium on Sunday, October 2.
Money well spent 🤔
Will United’s summer transfers propel them back to the summit of English football?