Manchester United’s losses grew to £113.2m last season due to the cost of selling a stake to Sir Jim Ratcliffe and investment in players failing to translate into Premier League success.
It followed net losses in the previous two years of £28.7m and £115.5m, putting a spotlight on the club’s compliance with football’s profit and sustainability regulations.
Premier League clubs are only allowed to lose £105m in a rolling three-year period but within that allowable losses for spending on infrastructure – which is much-needed at Old Trafford – as well as the youth and women’s teams.
Money latest: Wedding gifts branded ‘cheeky and spoilt’
United said in a statement: “The club remains committed to, and in compliance with, both the Premier League’s Profit and Sustainability Rules and UEFA’s Financial Fair Play Regulations.”
The results to the year ending 30 June did show a record annual revenue of £661.8m – underscoring the club’s enduring appeal to sponsors and fans despite the challenge to be competitive on the pitch.
While the men’s FA Cup was won by beating Manchester City, United finished eighth, 31 points behind their cross-city rivals and four-time defending champions in the Premier League to miss out on lucrative Champions League qualification.
INEOS bought a 27.7% stake in the club that is still ultimately controlled by the Glazer family.
United believe the £47.8m cost of bringing in INEOS and their strategic review will produce long-term benefits while benefiting from Sir Jim’s cash injection, hitting $300m by the end of the year.
Spending will be partly on facilities, including the training…
