Manchester United set record revenue but suffered losses in the 2022-23 season.
The club spent £648.4m (£784m) last campaign.
This new figure is set despite United competing in the Europa League with lower broadcast fees than the Champions League. United’s commercial growth was a big factor, passing the £300m mark for the first time to £302.9m, an increase of £45.1m (17.5%) on last year.
The high number of matches at Old Trafford also helped, with United benefiting from a unique home draw in domestic cup competition. Erik ten Hag’s side played seven more away games than last season, increasing matchday revenue by £25.9m (23.4 per cent).
Despite these figures, United made a loss of £28.7m at the time. But that sum is significantly less than the £115.5m lost in 2021-22.
Employee benefits, mainly player wages, were £331.4m, a decrease of £52.8m from the previous campaign, mainly due to not qualifying for the Champions League.
United’s long-term debt remains unchanged at $650m and, like last year, no dividend was paid.
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Analyzing Manchester United’s accounts: Record revenue, £28.7m loss, interest payments up.
Analysis by Mark Critchley and Dan Sheldon:
The fact that Manchester United made record revenues and still made losses says a lot about the club at the time.
United’s revenue-generating capacity of £648.4 million ($784 million) for the financial year ended June 30 is still remarkable, especially given their lack of success on the pitch over the past decade. But to still post a £28.7m loss, despite an improvement on last year’s £115.5m deficit, is a testament to the club’s incompetence at every level.
For business, they are brilliant. There are no problems changing tickets when it comes to filling Old Trafford. They are selling more soccer jerseys than ever before. Even in an era of limited success, United’s revenue-generating potential is often the envy of other clubs in England and across Europe.
However, debt and incompetence stemming from the Glazer family’s controversial ownership are holding them back.
If the deal to buy Sir Jim Ratcliffe’s minority 25 per cent stake in the Glazers goes through, the British billionaire is in no business to lose money – and will certainly be looking at ways to turn the loss-making club into a profitable one. one.
How he plans to do this, however, remains unclear.
Read below what United’s latest set of accounts reveal about the club’s financial health.
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Analyzing Manchester United’s accounts: Record revenue, £28.7m loss, interest payments up.
(Photo: Michael Regan/Getty Images)