Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Daily Mirror
Daily Mirror
Sport
David McDonnell

Manchester United record net loss of £115.5million in latest financial figures

Manchester United made a net loss of £115.5million last season, the club's quarterly financial figures revealed today.

United's overall revenue was up 18 per cent to £583.2m, up £89.1m on last year, with the normalisation of revenues post-COVID reflecting the return of fans to games and the club's commercial resilience emerging from the pandemic.

The club's net debt is £514.9m, compared to £419.5m for the same period the previous year, an increase of £95.4m.

The increase in debt reflects the continued impact of COVID, with United having made a £100m drawdown on revolving credit facility to offset £200m of cash lost during the pandemic.

United Chief Executive Richard Arnold said: “Our club’s core mission is to win football matches and entertain our fans.

“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.

“We have also continued to develop our women’s team with an aim of reinforcing our position among the leading clubs in the Women’s Super League.

Chief executive Richard Arnold revealed the latest figures on a conference call (AFP via Getty Images)

“Ultimately, we know that the strength of Manchester United rests on the passion and loyalty of our fans, which is why we have made fan engagement a strategic priority.

“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.”

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.