Man United have released their latest financial results and revenue has fallen by 20 percent year-on-year, while net debt has also risen.
[ MORE: Premier League schedule ]
What is clear from the results is that not being in the UEFA Champions League has hit United hard but they continue to make money with commercial revenue on the up seven percent.
Executive vice-chairman Ed Woodward revealed the latest results as Man United’s financial might is clear for all to see even.
“We have continued to make progress on our squad rebuild … the foundation for delivering the long-term success that we are all working towards is in place as we implement our plan and our footballing vision with Ole,” Woodward told investors. “We are pushing for a strong finish in the Premier League, the Europa League and the FA Cup as we enter the final third of the season.”
Man United are currently in fifth place in the Premier League table ahead of a pivotal run of games which will decide if they will once again dine at Europe’s top table under Ole Gunnar Solskjaer. On the pitch they’ve beaten Chelsea and Watford in the last week without conceding and things are coming together nicely with new signings Aaron Wan-Bissaka, Harry Maguire, Daniel James and Bruno Fernandes making a big difference.
Man United face Everton, Man City, Tottenham and Sheffield United in their next four PL games and that will be crucial in deciding if they’re going to reach the Champions League next season. Given Man City’s European ban and the potential for a UCL spot to move down to fifth-place, Man United are exactly where Solskjaer hoped they would be right now.
Below we have a look at the main takeaways form the financial results, which are always a huge talking point among United fans all over the world.
Main talking points from Man United’s Q2 results:
- Revenues of $218.3 million, down 20 percent year-on-year
- Operating profit of $47.3 million
- Commercial revenue up 7 percent
- Broadcast revenue down 37 percent due to no UEFA Champions League qualification
- Matchday revenue down 15 percent due to fewer home games
- Player wages down 9 percent
- Net debt is $506.9 million, up $94.6 million, 23 percent