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Tuesday, May 21, 2024

Man U Matchday Revenue Soars 1,005.9%

Manchester United/Design: Alex Brooks

Manchester United recorded a $20.9 million first-quarter loss Wednesday — cutting year-over-year losses by nearly half — and posted $170.4 million in total revenue in its first earnings report since bringing back Cristiano Ronaldo.

With Old Trafford allowing full capacity again, matchday revenue skyrocketed 1,005.9% year-over-year to $25.3 million. The stadium has a 76,000 seating capacity. Broadcasting revenue fell 9% to $58.3 million, attributed to fewer games — it had jumped 88% year-over-year in Q2.

  • The club’s retail, merchandising, apparel, and product licensing revenue grew 21.1% to $37.8 million.
  • Sponsorship revenue fell 0.5% to $48.9 million.

Wages for the team are up 23.1% from the same period last year.

On Tuesday, the team confirmed discussions with its supporters’ trust about a new “fans’ share scheme” in which roughly $10 million worth of shares would be up for grabs. The Glazer family, who owns the team, sold off $186 million worth of shares last month and $96 million in March.

During the quarter, Ariel Investments increased its stake from 5% to 13.8%.

As of April 2021, Manchester United was valued at $4.2 billion by Forbes.

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