LONDON, Sept 12 – Manchester United has posted net losses of £113.2 million (US$148 million) in its latest financial report.
Despite the significant loss, the club maintains that it remains in compliance with Premier League financial regulations, reported PA Media/dpa news.
The Red Devils’ latest losses for the year ending June 30 follows a £115.5 million loss in 2021-22 and a £42.1 million loss in 2022-23.
The Premier League’s profitability and sustainability rules (PSR) allow a maximum loss of £105 million over a three-season period, but within that certain losses are deemed ‘allowable’ such as infrastructure, youth team and women’s team spending.
United sources concede the losses are in part due to transfer and wage spending over the period, but a club release alongside the results said: “The club remains committed to, and in compliance with, both the Premier League’s Profit and Sustainability Rules and UEFA’s Financial Fair Play Regulations.”
Everton and Nottingham Forest both incurred points deductions last season after being found in breach of PSR.
Included in United’s newly reported losses were costs of £47.8 million linked to the strategic review embarked upon by the club’s owners, the Glazer family, in November 2022 which ultimately resulted in Jim Ratcliffe acquiring a 27.7 per cent stake in the club.
The club earned £661.8 million in revenue, a United record.
