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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.
Manchester United said the club has 'a lot more work to do' as executives targeted an improved performance on the pitch and set out financial goals for 2022-23 after ending the previous year deep in the red.
Manchester United chief executive Richard Arnold has warned the club will be "disciplined" in their plans to improve facilities at Old Trafford.
It has been confirmed that Manchester United paid £33.6million out in dividends, mostly to the Glazer family, in the financial year up to June 30, 2022, up by more than £20million on the previous year.
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.
Manchester United chief executive Richard Arnold will speak to investors on a conference call on Thursday afternoon.
Today is the second day of the international break as members of Manchester United's first team link up with their respective national sides.