Premier League: They must Red Devils to the horns! | Tweet

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Man Utd announced this Thursday net loss of 132.52 million euros on the 2021-22 season, despite the fact that revenues increased by 18 percent, reaching 668.92 million, while the The club’s debt grew by more than 22 percent, reaching almost 600 million euros.

According to the data offered by the English club itself, the losses increased by more than 26 million euros compared to the 2019-2020 season. And the greater expense was attributed to the high salaries, that after the signings last summer of players like Cristiano Ronaldo, Jadon Sancho or Raphael Varanetheir wage bill increased by 19.1 percent, to go from 70.68 to 440.82 million euros.

This figure is the highest in the history of the Premier League in terms of salaries, surpassing the previous mark established by the Manchester Citywith a wage bill of 407.32 million.

The data shows how club net debt also increasedfrom 481.33 million in 2021 to 590.79 million this year, an increase of more than 22 percent. United attributed that increase mainly to a $74.12 million unrealized loss on the conversion of US dollar loans.

Cliff Batty, financial director of the club, said:

Our financial results for fiscal 2022 reflect a recovery from the pandemic, a full return of fans and new business partnerships offset by increased investment in the workforce.

From United they indicated that these results were affected by “the absence of a summer tour in July 2021, exceptional and increased utility costs, and the impact of the weakening of the pound sterling” in non-monetary financial costs, according to Batty.

While, Richard Arnold, CEO, noted:

We have strengthened our first men’s team, completed a successful summer tour and laid a foundation to build on in the early stages of the 2022-23 season under our new coach Erik ten Hag.

Finally, arnold stressed that the clubb strengthened its female sectionadding that there is “a lot of work to be done” in the entity.

“Everyone in the club is lined up in one clear strategy to achieve sustained success in the field and a sustainable economic model outside of it, for the mutual benefit of fans, shareholders and other interested parties”, settled the executive director.

(With information from Europe Press)

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