- Premier League giants reveal losses
- Challenges faced on and off the field
- Ownership change still on the cards
WHAT HAPPENED? Those figures are up from £477.1m ($588m), with total revenue down 10 per cent year-on-year. Commercial revenue for the Premier League heavyweights has risen by 22.2% to £78.7m ($97m), with matchday income taking a hit despite record sales of tickets, hospitality, membership and broadcasting rights. Despite plenty of numbers heading into the red, United have posted a net profit of £6.3m in the last quarter – which included the 2022 World Cup break – and expect total revenue to be between £590m ($728m) and £610m ($752m) by the time their next results are delivered.
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WHAT THEY SAID: United said in a statement: “Commercial revenue for the quarter was £78.7 million, an increase of £14.3 million, or 22.2%, over the prior year quarter. Sponsorship revenue was £50.4 million, an increase of £15.2 million, or 43.2%, over the prior year quarter due to the impact of our training kit agreement with Tezos, together with a one-off sponsorship credit.
“Retail, Merchandising, Apparel & Product Licensing revenue was £28.3 million, a decrease of £0.9 million, or 3.1%, over the prior year quarter. Broadcasting revenue for the quarter was £58.7 million, a decrease of £27.7 million, or 32.1%, over the prior year quarter, primarily due to the men’s first team participating in the UEFA Europa League compared to the UEFA Champions League in the prior year. Matchday revenue for the quarter was £29.9 million, a decrease of £4.7 million, or 13.6%, over the prior year quarter, due to playing two less home games in the current year quarter compared to the prior year quarter.”
THE BIGGER PICTURE: United added that “total operating expenses for the quarter were £167.6 million, a decrease of £12.1 million, or 6.7%, over the prior year quarter”, but they do have a season ticket waiting list of 145,000 people and their enduring appeal should help to keep the turnstiles and cash registers ticking over.
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Qib.com.qa & Man Utd
WHAT NEXT? United may be under new ownership by the time their next set of financial results are released, with Sir Jim Ratcliffe – Britain's richest man – and Qatari Sheikh Jassim bin Hamad Al Thani having formal offers on the table, while US hedge fund Elliott Management have also expressed interest in a deal that the Glazer family hopes will eventually be worth around £6 billion ($7.4bn).