Without fans in attendance for much of the English Premier League season, Manchester United reported an 18.8% drop in revenue for its 2020 fiscal year ending in June. The world’s third-most valuable soccer team reported a loss of $29 million on $641 million in revenue, down from last year’s $24 million profit.
Manchester United saw match-day revenue drop 19% year-over-year, but did note some losses were offset by reduced costs. Along with the pandemic impacting the bottomline, so too did the club’s subpar play on the field — it missed out on the valuable UEFA Champions League tournament last year, which contributed to a 41.9% dip in broadcast revenue year-over-year.
Commercial revenue was up with a 5.6% jump in sponsorships, thanks to eight new global partnerships including a strategic deal with Chinese retailer Alibaba.
Manchester United’s Fiscal Year By the Numbers:
- $352 million in commercial revenue
- $177 million in broadcast revenue
- $113 million in match-day revenue
- Stock price has dropped from $16 to $13 in the past year