Manchester United has announced a revenue loss despite earning £648.4 million for the whole 2022–23 season, even as the club cut salary costs by £52.8 million.
The club’s long-term debt remains at £538 million, with the Glazer family opting not to collect a dividend during the 2022–23 season.
The payroll bill was reduced to £331.4 million as a result of United’s absence from the Champions League last season, according to the numbers.
Commercial income surpassed £300 million for the first time, yet the club nevertheless lost £42.1 million in 2022–23.
United returned to Champions League football in Erik ten Hag’s first season as manager by finishing third in the Premier League and ending a six-year trophy drought by winning the Carabao Cup.
In their most recent financial report, United touted record ticket sales and attendance, as well as a £900 million Adidas kit agreement that runs until 2035.
However, there was no update on the club’s ownership or the normal conference call with investors, while Sir Jim Ratcliffe awaits a decision from the Glazers on whether his £1.4 billion acquisition of 25% of the club has been accepted.
Following their return to the lucrative Champions League, United expects their revenue to increase to £680 million next year. Their previous best revenue was £627 million in the 2018–19 season.
Erik Ten Hag’s team kept their Champions League ambitions alive with a 1-0 victory over Copenhagen on Tuesday night.
After Harry Maguire’s goal, Andre Onana made a critical late penalty save to secure the victory.
