Manchester United post Premier League record £648m revenue figure but make loss
Manchester United have posted Premier League record revenue figures of £648.4m for the year ending June 30.
It marks a 11 per cent rise from the previous year but the club have made a loss of £42.1m for the same period.
The results come as the club edge closer to a deal with Ineos founder Sir Jim Ratcliffe which would see the Brit acquire 25 per cent of the iconic Premier League club.
The record revenues beat Manchester United’s record, which was set in 2019, and came in a year where the club were in the Europa League rather than the more lucrative Champions League.
The club have predicted revenues of between £650m and £680m for the 2023-24 season but could see their new record broken by Manchester City when the Abu Dhabi-owned club publish their annual results.
Core profit has been adjusted to between £140m and £165m for the 2024 fiscal year compared with the £155m posted for the period ending June 30 of this year.
Non-current borrowings were £507.3m, compared with £530.4mi at the prior year end but broadcasting revenue dropped from £214.9m to £209.1m.
The club were looking at a full takeover from current owners The Glazers by either Ratcliffe or Qatar’s Qatar’s Sheikh Jassim bin Hamad al Thani but that appears to no longer be the case, with a minority stake from the Ineos founder preferred.
It is understood that the Glazers will not receive a dividend after an annual results posting for the first time since 2016.