Manchester United announce net loss of £115.5m for 2021-22
Manchester United have announced a net loss of £115.5m for the 2021-22 season even though revenues rose by 18% to £583.2m.
Figures released incorporating the end of their financial year in June showed losses rose by £23.3m compared to 2021.
The club’s debt also went up, from £419.5m in 2021 to £514.9m this year – an increase of more than 22%.
“Our club’s mission is to win football matches and entertain our fans,” chief executive Richard Arnold said.
As a result of the signings last summer of the likes of Cristiano Ronaldo, Jadon Sancho and Raphael Varane wages rose by 19.1%, a rise of £61.6m to £384.2m.
That figure is the highest in Premier League history, surpassing the previous total of £355m set by Manchester City.
“Our financial results for fiscal 2022 reflect a recovery from the pandemic, a full return of fans and new commercial partnerships offset by increased investment in the playing squad,” said chief financial officer Cliff Baty.
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