Like most European clubs, Manchester United suffered financially last year due to the Covid. In the period ended June 30, the club’s revenue fell 2.9% to 494.1 million pounds (578 million euros). However, this is less than in the previous year, when turnover fell by nearly 19% with the first effects of the pandemic. TV rights revenue rose more than 80% to £ 254.8million (€ 298million), notably thanks to the Red Devils’ return to the Champions League, but ticketing revenue fell by 92 % to just 7.1 million pounds (8.3 million euros).
This translates into a net loss for the year of 92.2 million pounds, or just over 108 million euros. This is the second consecutive season in the red for MU, who had already lost 23.2 million the previous year. Manchester United, listed on the stock exchange, is obliged to publish its results every year.
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Happy with the transfer window, Woodward calls for « financial responsibility »
The past year has been « one of the toughest in Manchester United historyClub executive vice president Ed Woodward said on a conference call.While the financial impact of the pandemic is real, our strong situation is evident and everyone at the club can be proud of the resilience shown during this difficult time.« , he added.
Cristiano Ronaldo and Paul Pogba with Manchester United in 2021
Credit: Getty Images
Woodward, who is due to step down at the end of the year, highlighted the « robust » demand for television broadcasts both in the UK and internationally with strong growth potential in North America thanks to to streaming broadcasts. « While we are confident in our strength, it is clear that football as a whole faces significant financial challenges due to years of wage inflation and transfer charges, exacerbated by the effects of the pandemic.« , he warned, however, calling for a greater »financial responsibility« at both national and European level.
He estimated that the transfers made during the summer transfer window, including the return of Cristiano Ronaldo and the arrivals of Jadon Sancho and Raphaël Varane, « demonstrate our ability to continue to attract some of the world’s best players to Old Trafford and enable them to succeed on the pitchManchester United are currently number one in the Premier League with three wins in four matches.
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