Manchester United Football Club today reported losses of 113,2 million pounds ($148 million) for the fiscal year ended June 30, despite record revenues of 661,8 million pounds ($866 million).
The Premier League club, which was partly bought this year by British billionaire Jim Ratcliffe, said the figures were partly due to increased spending on players.
The Premier League's profit and sustainability rules allow clubs to lose a maximum of £105m over a three-year period or face fines. Last season, points were deducted from Everton and Nottingham Forest for violating those rules.
Despite the losses, United said it remains in compliance with Premier League and European Football Union (Uefa) financial rules. The rules apply to more than just net loss, with allowances for consumption in areas such as infrastructure.
Manchester United has undergone an extensive restructuring program following Ratcliffe's £1,3bn investment for a 27,7 per cent stake.
Manchester United had losses of 2022 million pounds in 2023/28,7, 2021 million pounds in 2022/115,5 and 2020 million pounds in 2021/92,2.
The club also said it expects to generate between £650m and £670m in revenue next year, after a record £661,8m this year, while wages rose by 10 per cent to £364,7m.
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