Manchester United has reported an annual loss of £92.2m as it counted the cost of forced stadium closures during the pandemic
The Old Trafford club said matchday revenues were down by 92% over a period when all but one of its matches were played behind closed doors due to COVID-19 restrictions.
Manchester United has reported an annual loss of £92.2m as it counted the cost of forced stadium closures during the pandemic.The Premier League club saw matchday revenues fall by 92% to just £7.1m for the year to the end of June, a period when all but one of its home matches were played behind closed doors.
It also suffered a £42.5m fall in sponsorship revenues, primarily due to no money-spinning pre-season tour taking place as a result of COVID-19.Image:Cristiano Ronaldo has returned to the clubParticipation in the Champions League helped cushion the blow, with broadcast revenue for the year rising by 82% to £254.8m as a result - also boosted by the deferral of games from the previous season into the first quarter of 2020/21 after a mid-season interruption caused by the pandemic.
Playing at the top level of European football also meant greater rewards for players - resulting in a £38.6m increase in their wage bill to £322.6m.AdvertisementOverall revenues were down by just 3% to £494.1m. The club's bottom line loss compares to a £23.2m loss in the 2019/20 financial year. headtopics.com
There was no mention in the results statement for the club - which is listed on the New York Stock Exchange - of its participation in the ill-fated European Super League project,after pressure from fans, politicians and players. Read more: Sky News »
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Im sure they will put up ticket prices to recoup loss revenue ohh and they can always release a new kit that will bring in a few quid
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