- The 2022–2023 financial report for Manchester United reveals a record revenue of £648 million.
- There is also a modest operating loss reflected in the figures.
- Earnings forecasted for the 2023–2024 fiscal year could reach up to £680 million.
Despite participating in the Europa League for the 2022–2023 season, Manchester United was able to earn record annual revenue, according to newly released numbers regarding the club’s financial performance.
The Europa League is UEFA’s secondary club competition, hence its prize pool is significantly lower than that of the Champions League. United, on the other hand, enjoyed a large increase in both commercial and matchday income streams, which more than compensated for the decline in television revenue as a direct result of the situation.
During the period of one year ending on June 30, 2023, the club generated a total of £648.4 million in revenue.
The pay cost was reduced by £52.8 million during the 2022–2023 season as a result of automatic clauses that were included in player contracts in the event that the team did not qualify for the Champions League. But the accounting balance still showed a modest operational deficit of £11.2 million, despite the fact that salaries were cut and record revenues were brought in.
It is believed that the Glazer family did not receive any dividends despite the fact that £33.6 million was distributed in the previous year.
Having qualified for the Champions League once again, Manchester United anticipates setting yet another income record in the 2023–24 season, with possible earnings of up to £680 million. A rich new shirt sponsorship contract has been secured with Qualcomm brand Snapdragon, and it will begin in the summer of next year. Additionally, a renewal of the kit arrangement with adidas will begin in 2025.
After almost a year since the Glazer family announced their intention to consider’strategic alternatives,’ the club is currently in the process of Sir Jim Ratcliffe becoming a minority owner with a 25% stake and a hands-on involvement in the organization. The wealthy owner of INEOS prevailed over Sheikh Jassim of Qatar, who was one of his competitors, and has stated that one of his primary goals is to enlarge and improve the club’s sporting department.