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.
- SUBSCRIBE TO THE F.C. BUSINESS RSS FEED
- BECOME A FAN OF F.C. BUSINESS ON FACEBOOK
- FOLLOW OUR TWEETS ON TWITTER
- LINKED IN TO FOOTBALL INDUSTRY PROFESSIONALS
Mon 27th Mar 2017 | Money & Finance
It is that time of year again….the happy financial prospect of promotion for a few or the nightmarish vision of relegation for other clubs. So how does league status affect a club’s...
Thu 9th Mar 2017 | Money & Finance
Rate relief for football in the community: An open goal for Government in 2017 Football clubs, large and small, will not benefit from any substantive ‘give-aways’ following the Chancellors...
Thu 2nd Mar 2017 | Money & Finance
Leicester City today announced its financial results for the year ending 31 May, 2016 – a period of continued growth and unprecedented success for the Football Club. An historic, captivating...
Wed 1st Mar 2017 | Money & Finance
Liverpool FC has filed its annual accounts for the year to May 31, 2016 reporting that revenues are continuing to grow, creating further financial stability for the club. Overall revenue increased to...