Manchester United debt rises to £455million (READ DETAILS)

Manchester United debt rises to £455million (READ DETAILS)

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Manchester United’s debt have repotedly rose 16 per cent to £455.5million in their latest financial results, with the coronavirus pandemic hitting the club hard.

United uncovered their second quarter financial 2021 outcomes on Thursday, with debt rising and income down 7.2 percent year-on-year with benefit likewise dropping by 6.9 percent.

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Notwithstanding, United’s executive vice-chairman Ed Woodward feels progress is being made by chief Ole Gunnar Solskjaer and is making arrangements for Old Trafford to be at full limit again next season.

On the pitch, United are second in the Premier League table yet 14 points behind rivals Manchester City who they visit on Sunday.

“While the disruption to our operations remains significant, we are pleased by the tremendous resilience the club has demonstrated through the pandemic, underpinned by the dedication of our people and the strength of our commercial business,” Woodward said.

“We have been reminded of the importance of football as a source of community, entertainment and pride to fans around the world, even as we have sorely missed them at Old Trafford.

“The progress made by Ole and the players this season is clear and our thriving Academy and Women’s team are also adding to the optimism we feel about the future on and off the pitch.”

According to EveningStanard, United’s revenue was down 7.2 per cent year-on-year to £281.8m with profit dropping by 6.9 per cent to £33.8m.

A return to the Champions League, albeit only for the group stage, saw broadcasting revenue up to £156.3m, an increase of 60.1 per cent.

Commercial revenue was down 19.1 per cent to £122.3m and with matches played behind closed doors since last March, matchday revenue dropped from £55.2m to £3.2m.

United’s penultimate match of the season, at home to Fulham on May 15, could host fans and Woodward is excited about the return of supporters to Old Trafford.

He added: “In the near-term, our focus remains on preparing for the return of fans to Old Trafford.

“We are seeing some positive examples around the world of live events with reduced capacity crowds delivered safely with social distancing.

“The successful rapid rollout of vaccines and falling rate of infections in the UK makes us optimistic about the Government’s roadmap out of the lockdown, including plans for the gradual reopening of sports stadia to spectators beginning this spring.

“Initially this will be with limits on capacity, but we are hopeful of crowds ramping back up to full capacity next season.

(Photo by Matthew Peters/Manchester United via Getty Images)

Listed in the key points, in addition to Mason Greenwood agreeing a new contract until 2025 and the signing of Amad Diallo, was the club’s November launch on TikTok.

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