LONDON (EFE) – Manchester United announced on Friday a net loss of 92.2 million pounds (107 million euros) between June 30, 2020 and June 30, 2021, due to the impact that the pandemic has had on club finances.
The total income of the English club fell by 2.9%, to 494 million pounds (578 million euros), while the department hardest hit was the income on match days, which plummeted 92.1% as most of last season was played behind closed doors.
United also blames the increase in losses on the increase in taxes paid by companies in the United Kingdom, although they indicate that last season’s participation in the Champions League, as well as income from television rights, have mitigated the fall in income.
Ed Woodward, United Executive Vice President, said in the conference following the announcement of the results, that “It has certainly been one of the most difficult years in the history of Manchester United.”
“In the worst moments of the pandemic we said that the club would emerge in a position of power, and we believe that now is when we are seeing it. We have strengthened the squad over the summer with the signings of Cristiano Ronaldo, Raphael Varane, Jadon Sancho and Tom Heaton. These additions show that we have the ability to attract some of the best players in the world to Old Trafford. ”