Mon. Sep 26th, 2022
MANCHESTER UNITED lost a staggering £116million last year according to their latest financial results.

The Red Devils spent big on wages and transfers last season with arrivals such as Cristiano Ronaldo and Raphael Varane.

Getty

The Glazers have increased Manchester United’s debt by £95m in the last year[/caption]

United spend a staggering amount on wages

But fans also returned to Old Trafford following the pandemic, which allowed the club to increase its revenue by 18 per cent.

Revenue is up to £583m yet the club still reported a huge net loss which works out as £2.2m a week.

The main factor behind such a loss is the sharp rise in wages, which are up by 19 per cent.

That means United spent a Premier League record £384m on wages last year alone, up by £62m from the previous season.

READ MORE ON MAN UTD

FREE BONUS

Sign up to Sun Vegas now for a £10 bonus – with NO deposit required!

UNITED NEWS

Ronaldo picks up goal award, De Jong reveals reason for brutal transfer snub

On top of that United increased their debt by 22 per cent and the figure they owe stands at £515m – up £95m from £420m.

The results follow on from the previous year when the club recorded an annual loss of £92m – but that could be partly explained by the impact of the pandemic.

And unfortunately for United it seems they could continue to experience losses after spending more than £220m in the summer transfer window.

The Red Devils have also been hit by a decline on the stock market too.


HOW TO GET FREE BETS ON FOOTBALL

In June shares dropped to a record low – plummeting by £1.3billion as they traded at £9.77, compared to £13.82 12 months earlier.

Shares have since picked up to a share price of £13.48, but that is still some way short of a value of £19.98 per share in September 2021.

Leave a Reply