United close to £500m in net debt

Posted On: May 27, 2022

United’s revenue increased 29.2 percent in the third quarter of this season, compared to the same period last year.

This is partly due to increased commercial turnover, as well as the fact that clubs are earning significantly more on matchdays now that the coronavirus pandemic is almost over in England.

At the same time, United ended up with a total loss of 21.8 million pounds during the period.

In addition, net debt increased 11 percent over the same period last year, according to Reuters. At the end of March, this was 496 million, which is a lot if revenues don’t skyrocket soon.

The reason, United take advantage of the club’s credit scheme.

Wage costs also increased by 20 percent compared to last year.

– Off the pitch, our income still has to recover after the pandemic. “This reflects the strength of our commercial operations, which in turn allows us to continue to invest in the club,” said top manager Richard Arnold.

NEW MANAGER: With more players out, Erik ten Hag is dependent on United’s board of directors willing to invest in his home soil.

He also admits it hasn’t been a very good season for United on the pitch, something he believes the club is working on improving.

– This work is being led by director of football John Murtough and our new manager, Erik ten Hag. Resilience and high standards are core values at Manchester United. We are determined to achieve even better results next season and beyond, said Arnold and added:

– Trusting in young players is another key factor at this club and the continued success of our academy gives us confidence in the future.

United Academy took the lead with victory in the prestigious FA Youth Cup this season. The likes of Alejandro Garnacho, Isak Hansen-Aarøen and Charlie McNeill secured United’s first trophy at the tournament since 2011.

Arnold also hopes that the arrival of Ten Hag will change the attitude of supporters towards the team next season. Towards the end of this season, United fans again protested at Old Trafford.

– Football is a sport with many passions and we fully respect the right of fans to express their feelings, as long as they are peaceful and in accordance with the law. But I hope all the fans at Old Trafford can approach next season with renewed optimism and confidence, ahead of a fresh start under Erik ten Hag.