Man Utd post huge 2021-22 losses with debts soaring to over £500m

Click here to watch it live with fuboTVfuboTV
Man Utd money finances 2022-23Getty Images
  • Net loss but overall revenue up
  • Increase of 18% on last year post-Covid
  • £95.4m increase in debt

WHAT HAPPENED? Man Utd made a net loss of £115.5 million (€180m/$175m) in 2021-22 and their net debt now stands at an eye-watering £514.9m (€590m/$580m) - an increase of almost £100m (€115m/$110m). Overall revenue was actually up 18% on the previous year to £583.2m (€670m/$660), reflecting the return to full stadiums and United's enduring commercial might despite the pandemic.

WHAT THEY SAID: Following the publication of United's latest financial figures, CEO Richard Arnold said: "Since our last earnings report, we have strengthened our men’s first team squad, completed a successful summer tour, and established a foundation to build from in the early stages of the 2022/23 season under our new manager Erik ten Hag.

"While there is a lot more work to do, everyone at the club is aligned on a clear strategy to deliver sustained success on the pitch and a sustainable economic model off it, to the mutual benefit of fans, shareholders, and other stakeholders."

THE BIGGER PICTURE: The coronavirus pandemic has evidently taken its toll on Man Utd's finances, but they were still able to spend big in the summer, splashing £220m (€250m/$250m) on the likes of Antony, Lisandro Martinez and Casemiro.

IN THREE PHOTOS:

Richard Arnold Manchester UnitedGetty Images
Erik Ten Hag Manchester United Sheriff 2022-23Getty Images
Antony Manchester United Arsenal 2022Getty

WHAT NEXT FOR MAN UTD? After winning four on the bounce, Ten Hag's new-look side will face their toughest test yet after the international break when they take on rivals Man City at the Etihad Stadium on Sunday, October 2.

Money well spent 🤔

Will United's summer transfers propel them back to the summit of English football?