Manchester United are going to go under a financial scrutiny after last season’s net loss and debts which add to a humungous total.
Manchester United announce a 115.5 million euros net loss for the financial year ending June 2022, to top it of they have a net debt of 94.5 million euros which make a massive total. The club made a 115.5 million loss last season despite of the increase in the revenues which rose by 18% to 583 million euros.
Manchester United in huge loss
Figures were released incorporating the final quarter of their financial year which had ended June stating losses rose by 23 million euros by the previous year.
To make it worse for the Premier league club the net debt also went up from 419.5 million in the year 2021 to 514.5 million in 2022 which is an increase of 23% for the club. The Red Devils put that rise of 95.4 million primarily down to 64.6 million for unrealized foreign exchange losses on the retranslation of borrowings in the United States dollars, So the revenue rose by 89.1 million euros.
Glazers are eating the club like Termites
No wonder the fans have made it clear that they want new owners with the glazersout protests. The accounts reveal that the Glazers family received 33.6 million euros in dividends throughout the financial year. The Glazers run the club and have given uncontrollable and excess amount of wages on top of that to increase their expenses, the wage bill rose to 384 million euros which is 61.1 million euros more than the previous year and it is more than any other Premier league club.