Manchester United announce £115.5m net loss for 2021/22 season – CEO Richard Arnold

Manchester United announce £115.5m net loss for 2021/22 season – CEO Richard Arnold

Man Utd have posted their latest financial figures taking in final quarter of the financial year; Club’s losses have risen by £23m on previous year; Player wages have risen to £384.2m, the highest in Premier League history, surpassing previous mark set by Man City

Figures released incorporating the final quarter of their financial year, which ended in June, showed losses rose by £23m on the previous year.

The club’s net debt also went up, from £419.5m in 2021 to £514.9m this year, an increase of more than 22 per cent.

United put that rise of £95.4m primarily down to £64.6m of unrealised foreign exchange losses on the retranslation of borrowings in United States dollars. Revenue rose by £89.1m.

Man Utd lost £2m per week last season

“Our financial results for fiscal 2022 reflect a recovery from the pandemic, a full return of fans and new commercial partnerships offset by increased investment in the playing squad,” said chief financial officer Cliff Baty.

“Our results have been adversely affected by the absence of a summer tour in July 2021, material exceptional and increased utility costs, and the impact of the weakening of sterling on our non-cash finance costs.”

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