- Manchester United has reported a net loss of £113.2 million
- This marks the third consecutive loss for the club
- United signed five new players during the summer transfer window
Manchester United has reported a net loss of £113.2 million for the year ending June 30th.
This marks the third consecutive loss for the club, following losses of £28.7 million and £115.5 million in the previous two seasons.
Despite the financial losses, United is not expected to breach the Premier League’s profit and sustainability rules due to allowances and exemptions.
The club remains committed to complying with both Premier League and UEFA regulations.
The latest financial figures cover a period when United finished eighth in the Premier League, bottom of their Champions League group, but won the FA Cup.
Last year, British billionaire Sir Jim Ratcliffe acquired a significant stake in the club.
Since the co-ownership by Ineos was confirmed, United has undergone a comprehensive review of club operations led by Sir Dave Brailsford. In July, the club announced plans to cut 250 jobs to reduce costs.
United’s financial statement also revealed a long-standing debt of $650 million, along with total current borrowings of £35.6 million.
The club expects to generate between £650 million and £670 million in revenue next year, while wages are projected to increase by 10%.
United, who will compete in the Europa League this season, have signed five new players during the summer transfer window.
