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Manchester United Chief Executive Ed Woodward (file pic). PA

Ed Woodward optimistic about future as Man United debt rises to £455.5million

The Red Devils finished third last season to seal a Champions League return which boosted broadcasting revenue.

MANCHESTER UNITED’s executive vice-chairman Ed Woodward feels clear progress is being made by manager Ole Gunnar Solskjaer and is planning for Old Trafford to be at full capacity again next season.

United revealed their second quarter fiscal 2021 results on Thursday, with debt up 16 per cent to £455.5million following 12 months of the coronavirus pandemic.

On the pitch, United are second in the Premier League table but 14 points behind leaders and rivals Manchester City who they visit on Sunday.

The Red Devils have also progressed into the quarter-finals of the FA Cup and reached the last 16 in the Europa League after they exited the Champions League in the group stage.

“While the disruption to our operations remains significant, we are pleased by the tremendous resilience the club has demonstrated through the pandemic, underpinned by the dedication of our people and the strength of our commercial business,” Woodward said.

“We have been reminded of the importance of football as a source of community, entertainment and pride to fans around the world, even as we have sorely missed them at Old Trafford.

“The progress made by Ole and the players this season is clear and our thriving Academy and Women’s team are also adding to the optimism we feel about the future on and off the pitch.”

United’s revenue was down 7.2 per cent year-on-year to £281.8m with profit dropping by 6.9 per cent to £33.8m.

A return to the Champions League, albeit only for the group stage, saw broadcasting revenue up to £156.3m, an increase of 60.1%. 

Commercial revenue was down 19.1 per cent to £122.3m and with matches played behind closed doors since last March, matchday revenue dropped from £55.2m to £3.2m.

United’s penultimate match of the season, at home to Fulham on May 15, could host fans and Woodward is excited about the return of supporters to Old Trafford.

He added: “In the near-term, our focus remains on preparing for the return of fans to Old Trafford.

“We are seeing some positive examples around the world of live events with reduced capacity crowds delivered safely with social distancing.

“The successful rapid rollout of vaccines and falling rate of infections in the UK makes us optimistic about the Government’s roadmap out of the lockdown, including plans for the gradual reopening of sports stadia to spectators beginning this spring.

“Initially this will be with limits on capacity, but we are hopeful of crowds ramping back up to full capacity next season.”

Listed in the key points, in addition to Mason Greenwood agreeing a new contract until 2025 and the signing of Amad Diallo, was the club’s November launch on TikTok.

It achieved the fastest growing following of any football club on the platform while United and its Foundation have provided over £5m of charitable support to good causes in the local community and beyond since the start of the pandemic.

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    Mute Cillian McCormick
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    Sep 21st 2016, 11:45 AM

    *Standing Ovation*

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    Mute Mise Éire
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    Sep 21st 2016, 5:08 PM

    That first pic is very Bill and Monica. Jus sayin…

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    Mute Kevin Mullen
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    Sep 21st 2016, 8:42 PM

    Sharp

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    Mute Mary Murphy
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    Sep 21st 2016, 8:58 PM

    Fionnuala seems to have gas

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    Mute George Long
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    Sep 21st 2016, 11:50 PM

    Which one is Bill do you think

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    Mute Dave Murray
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    Sep 21st 2016, 11:48 AM

    I read in one of the newspapers that she obtained two tickets from the Mayo Country board….I hope this isn’t true?

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    Mute Spoddgy
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    Sep 21st 2016, 2:31 PM

    What would you expect Dave usual shenanigans in the gaa. She should have joined chairde maigh eo and attended as much as possible that would look good on a greasy lying crook sorry I mean look good on a local politicians cv wouldn’t it?

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    Mute Richard Cunningham
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    Sep 21st 2016, 11:50 AM

    I couldn’t get a ticket either.. Guess the Gaa must be discriminating against me also !!

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    Mute Robert James Behan
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    Sep 21st 2016, 11:53 AM

    Thats a very tender looking photograph….. Wonder will be state sponsored phone calls to Kenya to explain that she and Enda are just ‘friends’?

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    Mute Tony Skillington
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    Sep 21st 2016, 3:15 PM

    “G’wan Michelle..have a rummage around my junk”…

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    Mute ballbreaker
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    Sep 21st 2016, 3:48 PM

    That’s one dirty look from Yer wan on the left …..Enda’s missus by any chance ?

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    Mute David Thomas
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    Sep 21st 2016, 5:09 PM

    I think so

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    Mute John Flanagan
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    Sep 21st 2016, 5:48 PM

    @ballbreaker: Yep, that is indeed IndaKinny’s long-suffering wifey.

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    Mute Keith
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    Sep 21st 2016, 2:37 PM

    So the politicians get in free while the ordinary fan has to pay????

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    Mute Tony Mcgrath
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    Sep 21st 2016, 11:49 AM

    Invite pat Spillane he can judge is it puke football or not

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    Mute Aidan Molyneux
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    Sep 21st 2016, 8:20 PM

    Jaysus . Don’t invite Joe Umbrella. The sarcasm if the shower of shites do arrive

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    Mute prop joe
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    Sep 21st 2016, 4:15 PM

    Great move by shamrock rovers. She’ll be complaining about not getting international tickets next, if we look like Qualifing for the world cup. She’s a great sports fan of teams doing well.

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    Mute Phil Quinlan
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    Sep 21st 2016, 3:17 PM

    Super initiative..

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    Mute Jho Harris
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    Sep 21st 2016, 6:11 PM

    @Phil Quinlan: Bad scant to Rovers, they would not give even one free ticket to a former player for his 80th birthday a few/years ago, Bray Wanderers another team my father in law played for were delighted to mark the occasion for him as were his other old team in Holyhead but Rovers refused point blank to make any gesture, not even a card and now these parasites get freebies. I hope the karma is instant for them.

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    Mute Eamon
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    Sep 21st 2016, 4:12 PM

    Well done Rovers, but don’t hold your breath . These people are out for their own publicity, not LOI

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    Mute Gerry Gilroy
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    Sep 21st 2016, 1:40 PM

    Ballina is traditionally Sligo Rovers so this will go down well on the east bound N59

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    Mute Dean Glennon
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    Sep 21st 2016, 5:42 PM

    Have to give it to Michael D he goes to some amount of games. Id say he would be a better pundit than most spoofers especially when games are played on Rte and any real fan just has to laugh.

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    Mute Seamus Og
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    Sep 21st 2016, 2:09 PM

    She got tickets in the end.

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    Mute Marty Borgnine
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    Sep 21st 2016, 4:27 PM

    She only goes to finals. In Rovers’ case she might have to wait a while.

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    Mute Paul White
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    Sep 21st 2016, 6:45 PM

    Michelle Mulhern dumped out of the Dail by her own voters and returns to the seanad by appointment of the fuhrer. Big mouth and well disliked down her own country.

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    Mute goo
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    Sep 21st 2016, 4:48 PM

    Absolutely fantastic idea rovers let us know how many turn up ok

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    Mute Martin Sinnott
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    Sep 21st 2016, 3:28 PM

    INDEPENDENT TD Mick Wallace might apply if the Boys are not playing

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    Mute Peter donnelly
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    Sep 21st 2016, 5:20 PM

    O God she isnt going to kiss him, I feel sick….

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    Mute @mdmak33
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    Sep 21st 2016, 4:32 PM

    Give them a water,i mean warm,welcome.

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    Mute Micheal OLainn
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    Sep 21st 2016, 7:24 PM

    Rewarding the giant Ego of the West.

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    Mute debco
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    Sep 21st 2016, 8:52 PM

    Ohhh Mrs Kenny is keeping her eye on her

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    Mute Linda Hughes
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    Sep 21st 2016, 8:03 PM

    Why don’t they let everyone in free? Again the ordinary Joe’s are pushed out!

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    Mute Tony Hartigan
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    Sep 21st 2016, 9:33 PM

    I notice Kenny’s wife keeping an eye on things..

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    Mute Jim Walsh
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    Sep 22nd 2016, 6:13 AM

    Clever publicity stunt by Rovers. As a paying season ticket holder I wouldn’t get too upset about the offer. Unlikely to see many TDs and Senators there anyway. At least Michael D will be there. Like Mick W. he goes to the less glamorous games.

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    Mute Deirdre Doherty
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    Sep 22nd 2016, 8:11 AM

    Fans who are real supporters can’t get tickets every year. Yet politicians seem to think they have a God given right to tickets. If ya have seen the amount of fans looking for tickets .to be quoted seven hundred .

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