Manchester United is working towards achieving “greater financial sustainability,” according to CEO Omar Berrada, following the club’s announcement of a £113.2 million ($148.2m) net loss in their latest financial report.
The club revealed record full-year revenues of £661.8 million for the fiscal year ending June 30. However, the increase in spending on new players contributed to a rise in net losses. United has now reported losses exceeding £90 million in three of the past four years, with the last profitable year being 2019.
Despite these financial challenges, sources indicate that the club remains committed to adhering to the Premier League’s profit and sustainability regulations, as well as UEFA’s Financial Fair Play rules. The Premier League allows clubs to incur losses up to £105 million over a three-year period, with certain expenditures, such as investment in infrastructure and youth development, considered allowable.
Berrada emphasized the club’s focus on efficiency, saying, “We are all extremely focused on working collectively to create a bright future with football success at the heart of it. We are working towards greater financial sustainability and making changes to our operations to make them more efficient, ensuring our resources are directed towards improving on-pitch performance.”
“Our clear objective is to return Manchester United to the top of European football, and everyone at the club is aligned on a strategy to deliver sustained success both on and off the pitch, for the benefit of our fans, shareholders, and stakeholders,” Berrada added.
Manchester United spent more than £180 million on five new signings this summer, including Matthijs de Ligt, Joshua Zirkzee, and Manuel Ugarte. The significant investment has increased pressure on manager Erik ten Hag, particularly after a 3-0 home defeat to Liverpool.
However, Berrada reaffirmed the club’s support for Ten Hag as they approach a critical run of fixtures in the Premier League, Carabao Cup, and Europa League. “We have strengthened our men’s first team with five exciting players and implemented a new football leadership structure to provide greater support to our manager,” he said.
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