Manchester United report £115.5m loss for 2021/22 season

Manchester united
Manchester united

Despite an 18% increase in income to £583 million, Manchester United reported a net loss of £115.5 million ($130.4 million, 132.2 million euros) on Thursday.

The 20-time English champions’ financial year ended in June, and their most recent quarterly report shows that their losses have grown by £23 million compared to the same time last year.

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Furthermore, the club’s net debt rose from £419.5 million in 2021 to £514.9 million this year, an increase of over 22%.

United said that a big part of this increase was due to unrealized foreign exchange losses from dollar loans that were turned back into other currencies.

“Our financial results for fiscal 2022 show a recovery from the epidemic, a full return of fans, and new commercial collaborations,” explained CFO Cliff Baty.

The weakening of sterling and its effect on our non-cash finance costs, the large increase in utility costs, and the fact that we won’t have a summer tour in July 2021 have all hurt our financial results.

The 2021/22 season was United’s worst in the Premier League since the league started in 1992, when it replaced England’s First Division.

United’s financial stability is threatened if the team does not make it to the Champions League.

In new coach Erik ten Hag’s first season, the club will compete in the Europa League instead of the Champions League.

United missed the playoffs by 13 points, and they ended up 35 points behind Premier League champions Manchester City.

They’ve played six games less than Arsenal so far this season, but they’re still in fifth place.

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