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Man Utd post loss of £83.6m despite record operating profit

Fri 8th Oct 2010 | Money & Finance

The Glazer’s plummeting relationship with Manchester United fans looks set to fall even further after the figures released today by the club reveal an annual pre-tax loss of £83.6m

In official figures to be released today, Manchester United showed an operating profit - which does not include the cost of servicing the club's debts - reached £100.8m, compared with £92m a year earlier.

However, this remarkable figure, a first for a UK football club has been hit by interest payments and reduced revenues from the sale of players.

The loss for the 12 months to 30 June compares with a profit of £48m for the year before, when revenues were boosted by the £80m sale of Cristiano Ronaldo.

Most worrying for fans are the club's interest payments on bank debt for the past year which totalled £40m.

The figures also reveal the impact of the Green & Gold campaign and the harder economic conditions which saw a fall in match-day turnover however this was offset by its increased commercial earnings.

Its overall annual turnover increased to £286.4m which favours comparatively with the £125m their rivals Man City posted earlier in the week. However, this is unlikely to endear them to their fans and is likely to spark fresh protests.

 

 

 

If you have any football business related news stories you’d like to share then please contact us – agourley@fcbusiness.co.uk or ryan@fcbusiness.co.uk

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