REVEALED: Manchester United lost £2m PER WEEK last season, despite the return of fans to Old Trafford, with a huge operating loss blamed on player wages – and club debt rising to infuriate fans
Manchester United lost more than £2million-per-week last season despite the return of fans to Old Trafford – with the club’s debt rising substantially.
The Old Trafford club reported a net loss of £115.5m for the season and posted an operating loss of £87.4m for the year to June 30, mostly due to spiralling player wages.
Net debt increased by £95.4m to £514.9m – something which will infuriate fans who have protested against the club’s American owners, the Glazer family.
The club blamed that increase on the use of a £100m credit facility to offset the losses inflicted by the Covid-19 pandemic and the empty stadiums that resulted.
The latest United financial figures showed a large 19.1 per cent increase in wages of £61.6m to £384.2m.
Supporter anger against the Glazers has intensified in recent months with protests staged outside Old Trafford ahead of a number of games.
More to follow.
Manchester United supporters who have protested against the Glazer family’s ownership will not be happy to hear of a £95.4million rise in debt to £514.9m in the latest financial figures
The latest financial figures for the Old Trafford club showed losses of over £115million
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