Manchester United will not repeat summer spending spree – John Murtough
Manchester United’s football director John Murtough insists the level of spending seen this summer will not be repeated by the club after the wage bill hit record levels.
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Manchester United’s football director John Murtough insists the level of spending seen this summer will not be repeated by the club after the wage bill hit record levels.
Manchester United on Thursday announced a net loss of 115.5 million pounds ($130.4 million, 132.2 million euros) for the 2021/22 season even though revenues rose to 583 million pounds as coronavirus restrictions eased. The financial year to June 30, 2022 also brought a 22 per cent rise in debt and a 19 per cent increase in wages. The 20-time English champions' net debt increased from 419.5 million in 2021 to 514.9 pounds million pounds. United attributed the rise in debt mainly to the fall of the pound which increased the value of US dollar borrowings.
Manchester United have revealed a net loss of £115.5 million from the 2021-22 season, despite revenues rising by 18 per cent to £583.2m. The normalisation of revenues after the COVID-19 pandemic, when fans were unable to attend matches, reflected in the figures.
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Manchester United have announced a net loss of £115.5m (€132m) for the 2021-22 season even though revenues rose by 18% £583m (€668m).
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.