Manchester United Takeover: Glazers family release Man United's financial reports, Red Devils in concerning £535.7 MILLION debt ahead of takeover

Manchester United Takeover: Glazers family release Man United’s financial reports, Red Devils in concerning £535.7 MILLION debt ahead of takeover – Check Out

Triyasha Chatterjee

Friday, Mar 31, 2023 3:26 pm

Manchester United Takeover: Manchester United Debt: According to Manchester United’s most recent financial reports,the club’s debt climbed by £58.6 million to £535.7 million in the year to December 31, 2022. By the time Man United releases their upcoming set of financial reports, they might have a new owner. Official offers have been put on the […]

Manchester United Takeover: Manchester United Debt: According to Manchester United’s most recent financial reports,the club’s debt climbed by £58.6 million to £535.7 million in the year to December 31, 2022. By the time Man United releases their upcoming set of financial reports, they might have a new owner. Official offers have been put on the table by Sheikh Jassim bin Hamad Al Thani of Qatar and Sir Jim Ratcliffe. Elliott Management, a US hedge fund, has also shown interest in a purchase that the Glazers family anticipates will ultimately be worth about £6 billion. Follow Premier League News Updates on InsideSport.IN.

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Manchester United Takeover: Glazers family release Man United’s financial reports, Red Devils in concerning £535.7 MILLION debt ahead of takeover – Check Out

Due to the weakening of the pound versus the dollar, debt increased from £477.1m. However the amount in US dollars remained the same at $650m.
Despite a 22.2% gain in commercial revenue, overall revenue decreased by 10% year over year as a result of the teams’ failure to advance to the Champions League and World Cup, which were held in November and December, respectively. Despite this, United recorded a £6.3 million profit in the last quarter of 2017.

📈Manchester United Q2 results out
🔴Revenue down 10% year on year
❌Debt up to £535.7m from £477.1m thanks to strong dollar v pound.
🔴 145,000 on ST waiting list #mufc

— Mike Keegan (@MikeKeegan_DM) March 30, 2023

Manchester United Takeover: Glazers family release Man United’s financial reports, Red Devils in concerning £535.7 MILLION debt ahead of takeover – Check Out

United said in a statement: “Commercial revenue for the quarter was £78.7 million, an increase of £14.3 million, or 22.2%, over the prior year quarter. Sponsorship revenue was £50.4 million, an increase of £15.2 million, or 43.2%, over the prior year quarter due to the impact of our training kit agreement with Tezos, together with a one-off sponsorship credit.

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“Retail, Merchandising, Apparel & Product Licensing revenue was £28.3 million, a decrease of £0.9 million, or 3.1%, over the prior year quarter. Broadcasting revenue for the quarter was £58.7 million, a decrease of £27.7 million, or 32.1%, over the prior year quarter, primarily due to the men’s first team participating in the UEFA Europa League compared to the UEFA Champions League in the prior year. Matchday revenue for the quarter was £29.9 million, a decrease of £4.7 million, or 13.6%, over the prior year quarter, due to playing two less home games in the current year quarter compared to the prior year quarter.”

Despite having a 145,000-person season ticket waiting list and their enduring appeal, United said that their “total operating expenses for the quarter were £167.6 million, a decrease of £12.1 million, or 6.7%, over the prior year quarter.” Nevertheless, they do have a successful history of keeping fans in the stands.