REVEALED: Manchester United lost £2million a week last season despite fans returning to Old Trafford, with a huge operating loss attributed to players’ wages – and the club’s debt mounting to anger fans
Manchester United lost more than £2million a week last season despite fans returning to Old Trafford – with the club’s debt mounting significantly.
Old Trafford club reported a net loss of £115.5m for the season and an operating loss of £87.4m for the year ended 30 June, largely due to rising player wages.
Net debt rose by £95.4m to £514.9m – something that will infuriate fans who have protested the club’s American owners, the Glazer family.
The club attributed this increase to the use of a £100m credit facility to help offset losses caused by the Covid-19 pandemic and the resulting empty stadiums.
United’s latest financial figures showed a huge 19.1 per cent increase in wages from £61.6m to £384.2m.
Fan anger at the Glazers has intensified in recent months with protests outside Old Trafford ahead of a number of games.
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Manchester United supporters who have protested the Glazer family’s ownership will not be happy about a £95.4million rise in debt to £514.9million in the latest financial figures
The latest financial figures for the Old Trafford club showed losses in excess of £115million
