Manchester United reports higher loss despite record annual revenue
Manchester United’s annual loss rose almost one third to £43 million after tax, even as revenue reached a record £677.6 million. Higher broadcasting income was offset by cost-cutting-related payments, compensation for Ruben Amorim’s departure and increased loan repayments.
Manchester United’s annual net loss rose by almost one third to £43 million, despite the club reporting record revenue of £677.6 million for the year to June 30. Revenue increased 1.7 per cent, while the club recorded a seventh consecutive annual loss after tax. The accounts showed that higher broadcasting income drove the revenue increase.
Broadcasting receipts rose almost 20 per cent, helped by the club’s third-place Premier League finish, an improvement from 15th the previous season. Commercial and matchday income each fell by close to five per cent during a campaign without European fixtures. Cost reductions overseen by co-owner Jim Ratcliffe were offset by contractual payments to former manager Ruben Amorim and a substantial increase in loan repayments.
The club reported £8.2 million in exceptional items, mostly linked to Amorim’s departure in January after 14 months in charge. The accounts also recorded £63.5 million spent acquiring land next to Old Trafford, where the club plans to build a 100,000-capacity arena. Chief executive Omar Berrada said the figures demonstrated the club’s commercial strength and said United would continue a disciplined approach to financial sustainability.
United expects revenue of between £740 million and £760 million in the current financial year. The supplied report said Michael Carrick replaced Amorim and secured Champions League qualification, but that his team began the new season with five points from five league matches and exited the English League Cup.
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