MANCHESTER UNITED HAVE announced a net loss of £115.5million for the 2021-22 season even though revenues rose by 18 per cent to £583m.
Figures released incorporating the final quarter of their financial year, which ended in June, showed losses rose by £23m on the previous 12 months.
The club’s net debt also rose, from £419.5m in 2021 to £514.9m this year, an increase of more than 22 per cent.
United put that rise of £95.4m primarily down to £64.6m of unrealised foreign exchange losses on the retranslation of borrowings in United States dollars.
Revenue rose by £89.1m, while United paid out £33.6m in dividends to shareholders.
“Our financial results for fiscal 2022 reflect a recovery from the pandemic, a full return of fans and new commercial partnerships offset by increased investment in the playing squad,” said chief financial officer Cliff Baty.
“Our results have been adversely affected by the absence of a summer tour in July 2021, material exceptional and increased utility costs, and the impact of the weakening of sterling on our non-cash finance costs.”
As a result of the signings last summer of the likes of Cristiano Ronaldo, Jadon Sancho and Raphael Varane wages leapt by 19.1 per cent, a rise of £61.6m to £384.2m.
That figure is the highest in Premier League history, surpassing the previous mark set by Manchester City (£355m).
“Our club’s core mission is to win football matches and entertain our fans,” said chief executive Richard Arnold.
“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.
“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.”
It’s a sign of the times we live in .
That person with the sign should be arrested for assault
@thomas walsh: Assault?
@Thomas O’ Donnell: they hit the rider with a sign causing injuries. That’s assault
@thomas walsh: bit dramatic. From the footage I saw, woman holding sign (stagnant and made of cardboard) and looking the opposite direction, into which the rider cycled.
@Kevin Norris: she was at a bike race and caused a crash…because of her being a spanner…fair play to tour of france..people should be accounable for their actions….
@Kevin Norris: you left out the bit where she was on the road and the only path for the rider was straight ahead.
@Kevin Norris: she was completely reckless and only thinking of herself. People were injured because of her selfishness. She should pay the price
@Kevin Bury: i was commenting on whether I would describe it as assault or not.
@Dave O Keeffe: again – assault?
@thomas walsh: again – assault?
@Kevin Bury: don’t know much about French law but what could charge her with?
Assault Battery Negligence or what?
@Kevin Bury: don’t know much about French law but what could you charge her with?
Assault Battery Negligence or what?
@Kevin Norris: yes assault here in irelamd anyway
a person shall be guilty of the offence of assault who, without lawful excuse, intentionally or recklessly—
(a) directly or indirectly applies force to or causes an impact on the body of another, or
Reckless would cover it
@Kevin Norris: yes did I stutter? Assault. Where people not injured? Did she cause these injuries? That my friend is assault
@thomas walsh: sorry but the video is quite clear. She was standing on the road and the cyclist crashed into her? Cyclist should have avoided her
@seanieP: sure that’s so ambiguous it could mean that the woman involved could sue the cyclist, standing on a public road, if they want to sue then the roads should be closed to the public.
@guineon: ah come on now. There was a race she was well aware of happening and shouldn’t be in the road. It’s her recklessness.
Would you apply the same logic if someone popped out in front of usain bolt with a sign on the track mid pelt and he ran into them. Bolts fault I guess….. he should have just hurdled her.
@Mark Sheehan: what’s ambiguous? The definition of assault?
Was the the cause of impact intentional or reckless by the cyclist ? I never made comment on whether someone should be sued. I chimed in over a debate on assault.
@Mark Sheehan: also do all public roads need to be physically closed off to pedestrians.
Regardless of a race or not should people be standing in them wether or not they are ‘public’? The m50 is a public road sure go stand on that with a sign. Might try and sue the motorist if survive.
@thomas walsh: typical social media two babies having a fight lol
@guineon: how, the only path he could take was straight ahead as seen by the fact that when he went a few inches to the left he collided with other cyclists. Other cyclists that were meant to be there i might add.
Sue her for the millions she has…..some chance
Whatever the sign said it should be tattooed on her forehead
@Anthony Doyle: it’s says “Go Grandma and Grandpa”