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Sunday, July 14, 2024

Man U Reports Revenue Jump Amid Increasing Net Losses

  • The Premier League club generated $192 million in revenue in fiscal Q3.
  • It also suffered a net loss of $35 million during the quarter.
Manchester-United
Manchester United FC

Manchester United generated $192 million in revenue in fiscal Q3, up from $149 million in revenue for the same period last year despite lackluster results on the pitch this season. 

The club owned by the Glazer family, however, experienced a net loss of $35 million compared to $23 million in Q3 2021. 

  • Commercial revenue reached $83 million in fiscal Q3, a 12.9% increase year-over-year.
  • Broadcasting revenue hit $65 million, down from $74 million in fiscal Q3 2021.
  • Matchday revenue was $45 million, compared to $2 million for the same period last year.

The results follow an underwhelming 2021-22 season for Manchester United, which is the third-most valuable soccer club in the world at a $4.6 billion valuation, per Forbes. 

Manchester United finished sixth of 20 Premier League clubs this past season despite a star-studded men’s roster that included Cristiano Ronaldo

Looking ahead, the club stands to be impacted by UEFA’s plans to rewrite existing Financial Fair Play rules. The desire to impose new regulations comes after European clubs saw $7.7 billion collectively removed from their balance sheets during the pandemic.

Existing regulations have been met with criticism for their inability to alleviate financial inequality in European soccer.

New Look

Manchester United is in the process of redesigning its iconic home field since 1910, Old Trafford. The club has appointed architecture firm Populous and entertainment experiences company Legends for the redesign, which is expected to cost more than $261 million.

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