Chief financial officer Cliff Baty said they would hand back £20 million in TV revenue to broadcasters even if the Premier League season was completed.
With games called off – including matches in the Europa League and FA Cup – Baty said that sponsorship revenues had “contracted” and retail sales had been “impacted” with the club store at Old Trafford still closed. United refused to put a figure on what the anticipated overall financial cost of the pandemic would be ultimately – but Ed Woodward, executive vice-chairperson, said the major burden would fall in this quarter, which runs to June 30.
Revenues for the quarter fell by 18.7% to £123.7 million. The club’s debt rose by £124.4 million to £429.1 million.
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