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Manchester United Report $130.4 Million Loss For 2021/22 Season
Sports

Manchester United Report $130.4 Million Loss For 2021/22 Season

Manchester United on Thursday announced a net loss of 115.5 million pounds ($130.4 million, 132.2 million euros) for the 2021/22 season even though revenues rose to 583 million pounds as coronavirus restrictions eased. The financial year to June 30, 2022 also brought a 22 per cent rise in debt and a 19 per cent increase in wages. The 20-time English champions' net debt increased from 419.5 million in 2021 to 514.9 pounds million pounds. United attributed the rise in debt mainly to the fall of the pound which increased the value of US dollar borrowings.Among other large items were dividends of 33.6 million pounds to shareholders and the 24.7 million pounds compensation package for former manager Ole Gunnar Solskjaer, sacked in November 2021.The biggest contributor to United's spiralin...