This is shown by the accounting figures for the period 1 January to 31 March. The main reason for the £71.4m operating loss was United’s exit from the Champions League group stage before Christmas.
Erik ten Hag’s men finished last in their pool and did not get the opportunity to try themselves in the Europa League either. As a consequence, United played significantly fewer games at Old Trafford compared to 2023.
The deficit for the same quarter last year was 5.6 million pounds, which today corresponds to 77 million kroner.
The accounts show that wage costs increased by 7.3 per cent and amounted to 91.2 million pounds (1.25 billion kroner) in the first three months of the year.
Recently, several media reported that Manchester United might cut 250 positions. On Wednesday, the club confirmed that it is considering such a move. In addition, ticket prices are raised by 5 percent.
At the end of March, United’s debt was 650 million dollars, which means 6.94 billion kroner.
According to the quarterly report, the annual turnover for the 2023/24 season is expected to be around £660 million (NOK 9.05 billion).
Manchester United disappointed greatly in the Premier League and finished only eighth. It was the club’s weakest league position since 1990, but the final triumph over Manchester City in the FA Cup was an upturn on the last day of the season.
The victory ensured United play in the Europa League and important income.
Ineos owner Jim Ratcliffe bought 27.7 per cent of the shares in the Manchester club in the new year. At the same time, the billionaire secured sporting control and considerable power over the day-to-day operations.
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2024-07-13 13:31:39
