Retrieved 21 May 2020, 18:19 IST
In a statement published in the media. Manchester United It has been revealed that the club has been left in a state of shock after the coronavirus epidemic.
Manchester United’s financial situation is in dire straits as revenue declines and debts are finalized.
Manchester United chief executive has set a deadline for the end of the season
Manchester United’s controversial head shake Ed Woodward He spoke to the media this morning. In addition to detailing Manchester United’s financial woes, Woodward also expressed a desire to ensure 2019-20. EPL The season ends at the end of August.
It will start next season on time and will alleviate some of Manchester United’s financial worries as a result.
Woodward added that Manchester United is facing the most experimental period in its long and storied history. I saw the epidemic The whole economy comes to a complete standstill, And as a result the domino effect has been seen that many small football clubs are forgotten.
Manchester United still makes a lot of money from commercial marketing and sponsorship deals and there is no immediate risk of liquidation.
However, the chief executive acknowledged that the economic impact of the crisis on the club had left a scar that could take years even for a strong club like Manchester United to take over.
The only effective solution to the resumption of the Premier League project continues: the empty stadium. Manchester United earned £ 29.1 million in the previous quarter’s matchday earnings. Although it is not a huge part of the club’s sources of income, the complete absence of earnings on match day affects the club’s finances.
Manchester United also have a ১৫ 15 million discount with EPL broadcasters. This huge debt is mainly due to irregular changes in the schedule of fixtures brought back by the shutdown of EPL.
Although Manchester United Claiming to have. 90.3 million in its cash reserves and an additional 150 150 million under its revolving credit facility, the club must look to new revenue opportunities to ensure its long-term prosperity.
The report further states that Manchester United’s debt stood at an incredible। 429.1 million, an increase of 7 127.4 million over the previous year.
These startling figures could only prove to be an indication of the huge financial iceberg that is set to sink the EPL ship in the next few months.
Manchester United may have the resources to stabilize the ship and avoid the ongoing financial crisis, but overall football is set to reach a turbulent stage in the coming months.