Football UK

Man Utd set to post staggering financial losses due to coronavirus crisis


Manchester United could be braced for a loss of £100million by the end of the year as a result of the financial impact following the coronavirus crisis.

The club are due to announce their end of year figures in mid-October and, according to ESPN, have already lost out on more than £75million in revenue in just the last six months.

A lack of matchday income is causing United to miss out on £4-5million each time a fixture is carried out without fans present at Old Trafford.

Already United have played seven games behind closed doors and would have had two more fixtures had the Europa League not been completed as a mini-tournament in Germany.

United are set to announce losses believed to be in excess of £75m
United are set to announce losses believed to be in excess of £75m

Those nine games have therefore meant a black hole in United’s accounts of around £45million, and with no immediate signs of supporters returning, the losses look set to spiral further.

The UK government have already performed a U-turn on allowing sporting events to test run the return of a smaller allocations of fans from October 1, with no new date put in place as yet.

In addition United, along with all other 19 top-flight clubs, will have to pay back a significant amount of TV revenue to broadcasters.

Manchester United are looking to plot their path back to the top. Ole Gunnar Solskjaer has already brought in Donny van de Beek but Jadon Sancho remains Manchester United’s number one target.

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United’s share of the rebate is somewhere in the region of £20m, although the payment will be deferred until next season.

The club also had to shelve plans for a lucrative pre-season tour due to the pandemic which often generates roughly £10m.

Given the uncertainty of the club’s finances, it’s understandable that United chiefs then refused to meet Borussia Dortmund’s £108m asking price for primary transfer target Jadon Sancho.

Do you think United will make any more signings this summer? Have your say below.

Ole Gunnar Solskjaer could still make more signings before the transfer window shuts
Ole Gunnar Solskjaer could still make more signings before the transfer window shuts

United have still spent £40m on Donny van de Beek though, with at least one more arrival expected before deadline day providing they can get a deal over the line.

The club’s inability to offload any of their fringe stars to help alleviate the financial strain has also been a frustration, although the permanent departure of Alexis Sanchez has helped reduce the club’s wage bill.

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