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Sunday, March 3, 2024

Premier League Clubs’ Bottom Lines Hurt By Penalties, Performance

  • Manchester United is lowering its financial outlook after Champions League failure.
  • Everton faces another points deduction that could lead to relegation.
Manchester United forwards Marcus Rashford and Jadon Sancho
Manchester United

Manchester United’s failure to advance out of UEFA Champions League group play this season has forced the club to lower its 2024 fiscal revenue forecast by nearly $20 million. 

After originally expecting to bring in between $824 million and $862 million, Manchester United is now projecting $805 million to $843 million, with the additional prize funds that clubs receive for advancing to latter rounds of the Champions League no longer attainable. Reaching the knockout stage would have guaranteed at least another $10 million.

Currently sitting at seventh place in the Premier League, United will need a strong finish to crack the EPL’s top four to earn automatic UCL qualification for 2024-25. Any potential run will coincide with the finalization of incoming minority owner Jim Ratcliffe’s deal to invest in the club. The British billionaire’s $1.3 billion offer was formally submitted after this week’s earnings report and could be approved by the EPL in February. New SEC filings reveal that Ratcliffe’s exact share percentage of the club will be 27.69%, giving him 28.71% of voting rights.

Catastrophic Penalty?

The Premier League announced that Everton and Nottingham Forest are facing sanctions for violating profitability and sustainability rules. On the table is a potential deduction of 10 points in the EPL table, which could result in both clubs being relegated—and ultimately missing out on more than $100 million in revenue next season. Everton already suffered a separate 10-point penalty earlier this season.

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