Manchester United has reported revenues of 648.4 million pounds ($783.5 million) for the last financial year
ByThe Associated Press
October 26, 2023, 8:23 AM
FILE – British billionaire Jim Ratcliffe, the founder of the INEOS Chemicals company, is interviewed by The Associated Press at the Iffley Road Track, in Oxford, England, Tuesday, April 30, 2019. If Ratcliffe is successful in his attempt to buy a minority stake in Manchester United, he could end up with a major say in the running of its underperforming team, it was reported on Thursday, Oct. 19, 2023. (AP Photo/Matt Dunham, File)
The Associated Press
MANCHESTER, England — Manchester United reported revenues of 648.4 million pounds ($783.5 million) for the last financial year Thursday, a Premier League record.
The latest financial figures from United come at a time when British billionaire Jim Ratcliffe is reportedly ready to buy a 25% share of the English club from its American owners, the Glazer family.
Overall revenue is up by 11% compared to the previous year even though United competed in the Europa League and not the more lucrative Champions League. The club still reported a loss of 42.1 million pounds ($50.9 million).
United’s wage bill for the period was down 52.8 million pounds ($63.8 million) to 331.4 million pounds ($400 million), which was attributed to “squad turnover” and the team’s absence from the Champions League. Cristiano Ronaldo was among several highly-paid players to leave the club.
The report said no dividends had been paid to the Glazer family and other shareholders.
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