Manchester United has revealed record revenues of £648.4 million for the 2022/23 fiscal year ending on June 30, but the club still suffered a significant loss of £42 million during the period. This financial information was released on Thursday, October 26, marking a new record not only for the Red Devils but also for the Premier League as a whole. These figures surpass the previous high of £627 million set in the 2019/20 season.
Remarkably, Manchester United achieved these record revenues despite competing in the Europa League, which is less lucrative than the Champions League. Under manager Erik ten Hag, the team reached the quarter-finals of the Europa League before being eliminated by Sevilla. Additionally, the club won the League Cup, reached the final of the FA Cup, and secured a third-place finish in the Premier League, which contributed to merit payments for the 2022/23 campaign.
Despite these record-breaking revenues, Manchester United still reported a loss of £42.1 million for the 12-month period. This comes after a net loss of £115.5 million in the previous 2021/22 accounts.
However, the club is anticipating another record-breaking season in terms of revenue for 2023/24. The accounts for this upcoming year project revenue ranging from £650 million to £680 million. Notably, these projections may be influenced by British billionaire Sir Jim Ratcliffe’s investment in the club, as he is in the final stages of completing a deal to acquire 25 percent of Manchester United’s shares.
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