Financial Losses Increase
Manchester United have released their latest financial results, showing a mix of record income and rising losses. The club recorded record full year revenues of 677.6 million pounds and an operating profit of 22.6 million pounds.
However, overall losses at Old Trafford have gone up. The club reported a total loss of 43 million pounds, which is an increase from the 33 million pounds lost the previous year. Total borrowing also went up by 95 million pounds, reaching a total of 583 million pounds.
Smart Transfer Strategy
Despite the rising losses, chief executive Omar Berrada explained that the club is focused on keeping their finances stable. During the summer transfer window, United spent 155 million pounds to sign midfielders Andrey Santos, Youri Tielemans, and Carlos Baleba.
This spending was much lower than their main rivals. Manchester City, Liverpool, Tottenham, and Chelsea all spent at least 100 million pounds on just one player.
Berrada said the club wants to take a disciplined approach to keep their finances sustainable. He added that they have strengthened both the men's and women's squads while bringing Champions League football back to Old Trafford. A United source added that stabilizing the business requires hard work and financial discipline.
Stadium Plans and Other Costs
The financial report also revealed other major expenses. United paid 63.5 million pounds for land to build a proposed new 100,000 seater stadium. Berrada confirmed that securing this land was a major step forward for the project.
Additionally, the club paid 8.2 million pounds to Ruben Amorim and his coaching staff after they were dismissed in January. United later saved about 8.5 million pounds when Amorim took over as head coach at AC Milan during the summer.
The club also paid off around 150 million pounds of a revolving credit facility between March and June. In a press release, United explained that they are working to improve their operational efficiency.
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