Man Utd post loss of £83.6m despite record operating profit
Fri 8th Oct 2010 | Money & Finance
The Glazer’s plummeting relationship with Manchester United fans looks set to fall even further after the figures released today by the club reveal an annual pre-tax loss of £83.6m
In official figures to be released today, Manchester United showed an operating profit - which does not include the cost of servicing the club's debts - reached £100.8m, compared with £92m a year earlier.
However, this remarkable figure, a first for a UK football club has been hit by interest payments and reduced revenues from the sale of players.
The loss for the 12 months to 30 June compares with a profit of £48m for the year before, when revenues were boosted by the £80m sale of Cristiano Ronaldo.
Most worrying for fans are the club's interest payments on bank debt for the past year which totalled £40m.
The figures also reveal the impact of the Green & Gold campaign and the harder economic conditions which saw a fall in match-day turnover however this was offset by its increased commercial earnings.
Its overall annual turnover increased to £286.4m which favours comparatively with the £125m their rivals Man City posted earlier in the week. However, this is unlikely to endear them to their fans and is likely to spark fresh protests.
- SUBSCRIBE TO THE F.C. BUSINESS RSS FEED
- BECOME A FAN OF F.C. BUSINESS ON FACEBOOK
- FOLLOW OUR TWEETS ON TWITTER
- LINKED IN TO FOOTBALL INDUSTRY PROFESSIONALS
If you have any football business related news stories you’d like to share then please contact us – agourley@fcbusiness.co.uk or ryan@fcbusiness.co.uk
Google
Yahoo
Live
del.icio
DiggRelated Articles
Manchester City 'best value for money' for fans
Tue 22nd May 2012 | Money & Finance
Manchester City have won the Premier League title and are also top of the league of value for fans, according to the ING Direct Value table. The bank chart compares club season ticket costs with...
Manchester United remain world's most valuable football brand
Tue 22nd May 2012 | Money & Finance
Manchester United remain the world’s most valuable football brand with a value of €672.9 million (£543m), despite ending the 2011-12 campaign without a trophy. The Brand Finance...
Gold welcomes financial benefits
Mon 21st May 2012 | Money & Finance
David Gold admits West Ham would have been in big financial trouble had they failed to make an immediate return to the Premier League. Gold reckons that Ricardo Vaz Te's goal three minutes from time...
Liverpool Count Cost Of Stadium Ambitions
Thu 3rd May 2012 | Money & Finance
Liverpool’s latest accounts show the true extent of Hicks and Gillett’s troubled tenure with over £35m wasted on the failed Stanley Park project. In an interview on the club’s...
