Manchester United suffered a loss of £4m in revenue at the start of the year but was still able to pocket a remarkable £118.3m in income in the first quarter of 2021. Even after the ongoing coronavirus pandemic, United made sure that they are not financially weak.
As per the Daily Mail, Manchester United has endured a 4% drop in income for the initial three months of 2021.
Figures for January to March represent that the Red Devils made £118.3million in comparison with £123.7m for a similar period last year. Even after the pandemic created a financial loss for football clubs, still United was still able to retain a good amount of money.
A drop was seen in the matchday, business, and sponsorship income. They were all somewhere around £27.5m, £10.5m, and £8.9m respectively. On a positive note, that was also counterbalanced by a £32.6m increase in broadcasting revenue.
A significant justification for the drop is the absence of fans for most of the 2020/21 season. This also shows a massive drop in matchday income that plunged from £29.1m to £1.6m, a 95% drop.
With matches being held behind closed doors, the club encountered an operating loss of £21.6m for the period. Man United also submitted £10.7m in payments to shareholders. This was a result that Red Devils co-executive Joel Glazer defended at the Fans Forum that was held on the 4th of June this year.
Financial outcomes likewise uncovered that the club’s net debt remained at £443.5m.
In spite of the problems, chief executive Ed Woodward is hopeful about what’s to come. With most of the phases of this pandemic has passed by, we can anticipate a more fruitful 2021/22 season both on and off the field.
Given the conditions, it was consistently clear that we would have made a loss. But it clearly demonstrates that the fans are the real backbone of the club.
