Home » Premier League » It has come to our attention that the Glazer family has presented Manchester United supporters with some encouraging news this morning.
Accounts for the 2022–23 season reflect a record revenue of 648 million pounds.
In addition, the estimates incorporate a manageable amount of operational loss.
Possible earnings of up to 680 million pounds for the fiscal year 2023/24
In spite of the fact that they participated in the Europa League during the 2022–2023 season, Manchester United was able to earn a record yearly revenue for the season, according to the newly disclosed numbers.
While the Champions League is the most profitable club competition in the European Union, the Europa League is UEFA’s secondary club competition. United, on the other hand, had a considerable increase in both commercial and matchday income streams, which helped to compensate for the modest decrease in broadcasting revenue that resulted from the situation.
During the course of the year that ended on June 30, 2023, the club in total brought in a total of 648.4 million pounds.
Automatic clauses in player contracts were responsible for the reduction of the salary bill by £52.8 million in 2022/23. These clauses were implemented in the event that the team did not qualify for the Champions League. Nevertheless, the accounting balance still came in with a modest operational deficit of £11.2 million, despite the fact that salaries were cut and revenues were at an all-time high.
Man Utd have set optimistic figures for the end of 2023/24 / Michael Regan/GettyImages
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.
As a result of their return to the Champions League, Manchester United is already anticipating even another record earnings in the 2023–2024 season, which might reach up to 680 million pounds. The upcoming summer will mark the beginning of a lucrative new shirt sponsorship arrangement with the Qualcomm brand Snapdragon. Additionally, a renewal of the adidas kit deal will commence in 2025.
Sir Jim Ratcliffe is currently in the process of becoming a minority owner of the club, with a 25% stake but a hands-on role. This comes over a year after the Glazer family announced their intention to investigate “strategic alternatives.” The INEOS billionaire was able to overcome opposition from Sheikh Jassim of Qatar, and he is currently making preparations to grow and improve the club’s sporting department as one of his primary goals.
