• Loading stock data...
Monday, June 24, 2024

Manchester United Turns Profit Ahead of Potential Sale

  • Man United turned a $7.8 million net profit for the quarter ending Dec. 31, 2022.
  • It recorded a $1.7 million loss for the same period in 2021.
Manchester United players celebrate together after a goal
Manchester United

Manchester United is out of debt as it continues the process of potentially selling the team.

Manchester United PLC reported its earnings for the fiscal second quarter of 2023, revealing that the club turned $7.8 million net profit for the three-month period ending Dec. 31, 2022 — a noticeable improvement from a $1.7 million loss for the same period in 2021.

The iconic club reported a 22.2% year-over-year increase in commercial revenue to $97.5 million — but posted $72.7 million in broadcasting revenue and $37 million in matchday revenue, a 32.1% and 13.6% year-over-year decrease, respectively.

It was able to turn a profit, however, from decreased costs due to lower wages: $207.6 million in operating expenses compared to $222.6 million the year prior.

A view of the Manchester United stadium

Manchester United Extends Sale Deadline, New Bidder Emerges

On Thursday, Finnish entrepreneur Thomas Zilliacus announced his bid for Manchester United.
March 23, 2023

Much of the revenue was driven by strong ticket sales, as the 2.3 million Man United has sold cumulatively in the 2022-23 season has surpassed its previous record set in 2016-17.

It helps that the club has been competitive this season: It won the Carabao Cup in February, will face Brighton in the FA Cup semi-finals in April, and currently sits third in the Premier League table.

Meanwhile, the Glazer family is in the process of selling the club.

The most recent bids from finalists Qatar’s Sheikh ­Jassim bin Hamad Al Thani, British billionaire Jim Ratcliffe, and Finnish entrepreneur Thomas Zilliacus reportedly fell short of the Glazers’ asking price — but there is still optimism for an eventual deal.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Everton FC owner Farhad Moshiri stands on the pitch at Goodison Park Stadium.

Another U.S. Takeover? Houston-Based Group in Talks With Everton

The English soccer club continues to look for a new owner.

Clark vs. Reese: Priciest WNBA Game Set for Record-Breaking Viewership

Ticket pricing has already set a league record, while viewership expectations are lofty.
podcast thumbnail mobile
Front Office Sports Today

Clock is Ticking to Restart Coyotes’ Franchise

0:00

Featured Today

Jan 3, 2022; Pittsburgh, Pennsylvania, USA; General view of the NFL shield logo signage before the Pittsburgh Steelers host the Cleveland Browns at Heinz Field.

Odds Stacked Against NFL in Multibillion-Dollar Sunday Ticket Trial

Why the class action trial does not look promising for the league.
Jan 7, 2024; San Francisco, California, USA; Toronto Raptors forward Jontay Porter (11) takes a three-point shot against the Golden State Warriors during the second half at Chase Center.
June 9, 2024

‘Bound to Happen’: The Age of the Sports Betting Scandal Has Arrived

A banishment, betting scheme, and guilty plea all in one scandal-filled span.
June 8, 2024

‘Experimental in Nature’: The Rapid, Confounding Rise of Streaming Bundles

Here’s why confusion continues to outweigh solutions in the streaming package boom.
June 2, 2024

The Nostalgia Market: Michael Jordan’s Memorabilia Remains Coveted, With Caveats

Due to scarcity, and sometimes, items’ undisclosed whereabouts, this world has limitations.

Aces Sell Out Regular-Season Home Games in WNBA First

The Aces’ slow start continues to have no impact on the box office. 
June 18, 2024

Grousbeck’s Big Bet: Can Owner’s Spending Keep Celtics on Top?

The high-spending team faces more rising costs heading into its title defense.
June 20, 2024

New Koch Stake Values Nets, Liberty Parent at $6 Billion

The Koch family is well known for its conservative political donations.
Sponsored

How HOKA is Reimagining the NIL Relationship

HOKA, the renowned athletic footwear and apparel brand, is betting on a new reality with NIL.
June 13, 2024

Done Deal: Utah Hockey Club Unveils Identity, Colors, and Jerseys

The newly established NHL franchise selects a color scheme and temporary name.
June 10, 2024

Real Madrid Flees From Boss’s Claim It Won’t Play in FIFA’s Troubled Club World Cup

Carlo Ancelotti originally said his team won’t play in the U.S. tournament next summer.
Jan 21, 2023; Philadelphia, Pennsylvania, USA; Philadelphia Eagles owner Jeffrey Lurie walks off the field after win against the New York Giants during an NFC divisional round game at Lincoln Financial Field.
June 6, 2024

Report: Jeffrey Lurie Exploring Sale of Eagles Minority Stake

A sale would be based on a $7.5 billion team valuation.
Jan 11, 2020; Austin, TX, USA; Mike Bloomberg kicks off his presidential campaign in Austin on Saturday, January 11, 2020.
June 6, 2024

Report: Michael Bloomberg Joins Battle for Timberwolves Ownership

The former New York City mayor is worth roughly $106 billion.