Manchester United disclosed on Thursday that the club had a net loss of £115.5 million ($130.4 million, 132.2 million euros) for the 2021/22 season even though revenues at the club rose by 18 per cent to £583 million.
Figures released incorporating the final quarter of the 20-time English champions’ financial year, which ended in June, showed losses rose by £23m on the previous year.
The club’s net debt also increased from £419.5 million in 2021 to £514.9 million this year, an increase of more than 22 per cent.
Net debt, long a complaint of disgruntled fans since the leveraged buyout of Manchester United by the billionaire Glazer family in 2005, expanded by more than a fifth to £514.9M after falling last year.
The results come as the New York-listed company is spending heavily on attracting new on-field talent, in a bid to help the men’s team return to the top of England’s Premier League following a disappointing sixth place finish in its previous campaign.
Manchester United’s full-year wage bill – its largest expense – grew by 19.1% to a Premier League record of £384.2M.
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