Manchester United chief Richard Arnold has promised fans that the club are focused on winning matches and playing entertaining football after the club released their financial results for the fourth quarter and the full fiscal year. The results showed that the Red Devils lost more than £2million per week between the start of July last year and the end of June this year.
“Our club’s core mission is to win football matches and entertain our fans,” said Arnold. “Since our last earnings report, we have strengthened our men’s first-team squad, completed a successful summer tour, and established a foundation to build from in the early stages of the 2022-23 season under our new manager Erik ten Hag.
“We have also continued to develop our women’s team with an aim of reinforcing our position among the leading clubs in the Women’s Super League. Ultimately, we know that the strength of Manchester United rests on the passion and loyalty of our fans, which is why we have made fan engagement a strategic priority.
“While there is a lot more work to do, everyone at the club is aligned on a clear strategy to deliver sustained success on the pitch and a sustainable economic model off it, to the mutual benefit of fans, shareholders, and other stakeholders.”
United brought in £257.8m of commercial revenue, £214.9m of broadcasting revenue and £110.5m of matchday revenue to give them a total revenue of £583.2m for their last financial year. But, remarkably, their appetite for spending, means the club still made an overall loss of £115.5m.
We’ll be bringing you the very latest updates, pictures and video on this breaking news story.
For the latest news and breaking news visit: express.co.uk/sport/football
Stay up to date with all the big headlines, pictures, analysis, opinion and video on the stories that matter to you.
Follow us on Twitter @dexpress_sport – the official Daily Express & Express.co.uk Twitter account – providing real news in real time.
We’re also on Facebook @dailyexpresssport – offering your must-see news, features, videos and pictures throughout the day to like, comment and share from the Daily Express, Sunday Express and Express.co.uk.