Manchester United financial Loses £3.3m To Covid-19 Pandemic

  • 1 week ago
Manchester United recorded an overall loss of £3.3m between January 1 to March 31, which was primarily down to the 51.7 per cent decrease in broadcast revenue. United revenue has dropped 18.7 per cent over the prior year quarter to £123.7m as debt rose 42.2 per cent to £429.1m. 
Chief financial officer, Cliff Baty, explaining that they will return £20m in television revenue even though the league is concluded. United is making less money from broadcasting and matchday revenues,At £26m compared to £53.8m the previous year. 
According to Baty, the Red Devils lost £8m in the last three weeks of March when three of their games were postponed. He explained in a press conference that television broadcasters are getting the money due to the change of dates and time for the fixtures. United are due to an estimated £15m Premier League rebate for non-participation in the UEFA Champions League, and the impact of playing two fewer Premier League away games”.

Source: KokoLevel