Man Utd net net has risen to 429.1 million dollars after an annual growth of 42 percent


Retrieved 21 May 2020, 18:14 IST

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Exterior view of Old Trafford

Manchester United’s net debt rose 22 percent year-on-year to ৯ 429.1 million, with কিছু 3.3 million in operating losses due in part to carnivirus epidemics.

The 20-time England champions released their latest financial results for the third quarter on Thursday, with the effect of the suspended season clearly proving that their net alone increased by লার 127.4 million over last year alone.

The club blamed the “overall decline in cash and cash equivalents and the negative exchange rate movement for the increase in debt. [between the British pound and United States dollar]”. The number of gross debts remains unchanged.

United have also spent about 190 190 million in the last 12 months on the signatures of Harry Maguire, Aaron One-Bisca, Daniel James and Bruno Fernandes, which is said to have affected debt levels.

Gunnar Salzcazar’s side were unable to take part in the top game after beating rivals Manchester City 2-0 at Old Trafford on 6 March, and the club’s broadcast earnings have more than halved since last year. Three United games were suspended during that period, although they estimated that the broadcasters would receive a £ 15 million Premier League discount.

Taking part in the second tier competition in Europe, the Europa League has also had a negative impact compared to last year, with the Red Devils advancing to the 2018-19 quarter-finals of the Champions League.

These factors contributed to a 19 percent year-over-year decline in revenue for United, to 123.7 million this quarter.

Although Premier League clubs returned to training in smaller groups this week, uncertainty about the COVID-19 epidemic means United have abandoned their initial annual financial targets.

A statement from Executive Vice-Chairman Ed Woodward said: “Our focus is on the health and well-being of our colleagues, fans and partners around the world and we are extremely proud of how the club has responded to this crisis.

“Since the epidemic began, Manchester United and our foundation have provided support to our community hospitals, charities and schools, as well as support for front-line staff and vulnerable fans.

“These actions reflect the resilience through our core values ​​and adversities as a club that we have demonstrated many times throughout our long history and will do so again to weather these current challenges.

“In this spirit, we are looking forward to the safe return of the team and the exciting momentum that the players have achieved before taking all necessary steps to protect the health of the people. At this time, we have an unprecedented time of concern with all those affected.”