The earning power of English soccer giants Manchester United is on display yet again via the club’s latest earnings report. For the 2022-23 fiscal year, Manchester United brought in revenue of around $785 million — the most ever for a Premier League Club.
This year, Manchester United has signed long-term deals with Adidas and new shirt sponsor Snapdragon that will bring in close to $200 million annually.
However, despite the record revenues, Manchester United still posted a loss of nearly $35 million. Last season, the club competed in the Europa League instead of the more lucrative UEFA Champions League.
The report arrives as Manchester United is also mulling big changes to its ownership group.
Almost a year ago, the club said it would begin exploring strategic alternatives, including a potential sale of the team. Recently, British billionaire Jim Ratcliffe has emerged as a frontrunner — not to buy a majority of the club, but to instead be a significant minority investor.
Ratcliffe is said to be discussing paying at least $1.5 billion for a 25% stake in Manchester United that could lead to eventually acquiring more of the club. If the deal goes through, Manchester United CEO Richard Arnold is expected to leave the club, according to The Athletic.
Giving sporting control to Ratcliffe is reportedly under consideration as part of his deal.