Manchester United report huge net loss for 2021 22 after increase in wage bill and net debt as details including cost of shifting Solskjaer and Ragnick revealed
Manchester United report huge net loss for 2021-22 after increase in wage bill and net debt as details including cost of shifting Solskjaer and Ragnick revealed × Follow Us Create Notifications New User posted their first comment this is comment text Link Approve Reject & ban Delete Log in Manage your profile Editing Story Queue Video Queue Editing Stats Writer Home SEO Redirection Admin Wiki Edits Taxonomy Home Edit Site Menu Mapping Dashboard Tag Pages Community Social Feed Queue Feed Center Notification Center Affiliate Home Manage Pages Bottom Tagline Dash Timeless Stories Logout Football EPL 2022-23 News
Wage bill £384m, up by £61m. Biggest in division.
Cost of shifting Solskjaer, Rangnick + staff: £24.7m.
Net debt up by £94.5m.
Dividends for the year: £33.6m. Increase due to deferred payment in pandemic.
Story on @TheAthleticUK2479476#MUFC report net loss of £115.5m for 2021/22.Wage bill £384m, up by £61m. Biggest in division.Cost of shifting Solskjaer, Rangnick + staff: £24.7m.Net debt up by £94.5m.Dividends for the year: £33.6m. Increase due to deferred payment in pandemic.Story on @TheAthleticUK Speaking about Manchester United's losses amounting to £2 million per week through last season, the club's Chief Financial Officer Cliff Baty explained (via Sky Sports): "Our financial results for fiscal 2022 reflect a recovery from the pandemic, a full return of fans and new commercial partnerships offset by increased investment in the playing squad. "Our results have been adversely affected by the absence of a summer tour in July 2021, material exceptional and increased utility costs, and the impact of the weakening of sterling on our non-cash finance costs." Manchester United notably signed players like Raphael Varane, Cristiano Ronaldo, and Jadon Sancho last season. This saw their wage bill rise by 19.1 percent (£61.6 million) to hit a record-breaking £384.2 million. This is higher than the Premier League record previously set by their local rivals Manchester City, who had a wage bill of £355 million.
#MUFC2601268 A word from our CEO, Richard Arnold, on the ongoing developments at Manchester United.#MUFC "We have also continued to develop our women's team with an aim of reinforcing our position among the leading clubs in the Women's Super League."While there is a lot more work to do, everyone at the club is aligned on a clear strategy to deliver sustained success on the pitch and a sustainable economic model off it, to the mutual benefit of fans, shareholders, and other stakeholders." Poll : 0 votes Quick Links More from Sportskeeda Edited by S Chowdhury × Feedback Thank You! Be the first one to comment Follow Us Share Show More Comments GIF Comment in moderation 0 0 Reply x Edit Delete Delete the comment? No thanks Delete GIF Cancel Update GIF Cancel Reply ❮ ❯ GIF Comment in moderation 0 0 Reply x Edit Delete Delete the comment? No thanks Delete GIF Cancel Update GIF Cancel Reply ❮ ❯ Be the first one to comment on this story More from Sportskeeda Fetching more content... 1 Manage your profile Editing Story Queue Video Queue Editing Stats Writer Home SEO Redirection Admin Wiki Edits Taxonomy Home Edit Site Menu Mapping Dashboard Tag Pages Community Social Feed Queue Feed Center Notification Center Affiliate Home Manage Pages Bottom Tagline Dash Timeless Stories Logout No Results Found Get the free App now Manage notifications Popular Sports (30+) CricketCricket HomeScheduleT20 World CupT20 warm upIND vs SAENG vs PAKAUS vs ENGLegends LeagueECS T10 CroatiaWBBL 2022ECC T10SMAT 2022Bukhatir LeagueNZ T20 Tri-SeriesWomen's Asia Cup 2022ECT10 FootballFootball HomeNewslettersSK Experts ScheduleEPLNations LeagueLa LigaLigue 1Champions LeagueFIFA WCMLS Bundesliga Serie A WWEWWE HomeNewslettersRumor RoundupRAWSmackDownResultsRosterChampionsWWE Crown Jewel 2022PPV ScheduleAEW EsportsEsports HomeMinecraftOverwatch 2RobloxGenshin ImpactFortniteGTAStreamersFree FirePUBGValorantBGMIPop CultureAnimeGaming TechWiki Guides TennisTennis HomeTennis calendarTennis Results TodayATP RankingsWTA RankingsRoger FedererRafael NadalNovak DjokovicSerena Williams MMAMMA HomeUFC NewsONE ChampionshipUFC Fight NightScheduleRankingsResultsUFC Fights TonightONE Championship ResultsONE Championship ScheduleONE Championship Rankings KabaddiKabaddi HomePKL 2022PKL SchedulePKL Points TableKabaddi Rules WikiWiki HomeMinecraft WikiNaruto WikiTikTok WikiYoutube WikiGTA WikiTerraria WikiOne Piece Wiki MoreSportsBasketballIndian FootballNFLMinecraftFormula 1NascarPop CultureCollege FootballHockeyGolfAthleticsBadmintonGymnasticsWrestlingSwimmingTennisShootingBoxingArcheryWinter SportsRobloxFree PicksSkateboardingKho KhoLifestyle LINKS About Us Write For Us Policies Editorial Standards Journalism Awards Fact Check Affiliate Program Careers CSR Privacy Policy Contact Us Edition: English हिन्दी
Manchester United report huge net loss for 2021-22 after increase in wage bill and net debt as details including cost of shifting Solskjaer and Ragnick revealed
By Nnanna Mba Modified 22 Sep 2022 Follow Us Comment Share Manchester United report huge net loss for 2021/22. Manchester United have reported that they ended the 2021-22 season with an overall net loss of £115.5 million. This is a £23 million increase from last year's loss, even though the club saw their revenues rise to £583 million, approximately 18% from the previous year. The club also saw their net debt increase by 22 percent, from £419.5 million last year to £514.9 million this year. The cost of sacking Ole Gunnar Solskjaer and Ralf Rangnick, including their coaching staff, came to £24.7 million. While Solskjaer was sacked in November 2021, Rangnick left Old Trafford at the end of last season after he was expected to assume a consultancy role. Laurie Whitwell@lauriewhitwell#MUFC report net loss of £115.5m for 2021/22.Wage bill £384m, up by £61m. Biggest in division.
Cost of shifting Solskjaer, Rangnick + staff: £24.7m.
Net debt up by £94.5m.
Dividends for the year: £33.6m. Increase due to deferred payment in pandemic.
Story on @TheAthleticUK2479476#MUFC report net loss of £115.5m for 2021/22.Wage bill £384m, up by £61m. Biggest in division.Cost of shifting Solskjaer, Rangnick + staff: £24.7m.Net debt up by £94.5m.Dividends for the year: £33.6m. Increase due to deferred payment in pandemic.Story on @TheAthleticUK Speaking about Manchester United's losses amounting to £2 million per week through last season, the club's Chief Financial Officer Cliff Baty explained (via Sky Sports): "Our financial results for fiscal 2022 reflect a recovery from the pandemic, a full return of fans and new commercial partnerships offset by increased investment in the playing squad. "Our results have been adversely affected by the absence of a summer tour in July 2021, material exceptional and increased utility costs, and the impact of the weakening of sterling on our non-cash finance costs." Manchester United notably signed players like Raphael Varane, Cristiano Ronaldo, and Jadon Sancho last season. This saw their wage bill rise by 19.1 percent (£61.6 million) to hit a record-breaking £384.2 million. This is higher than the Premier League record previously set by their local rivals Manchester City, who had a wage bill of £355 million.
Manchester United CEO explains how the club broke the Premier League wage record
While the massive net loss has been a shocking revelation, Manchester United Chief Executive Richard Arnold explained that the focus has been on strengthening the club (via Sky Sports): "Our club's core mission is to win football matches and entertain our fans. Since our last earnings report, we have strengthened our men's first-team squad, completed a successful summer tour, and established a foundation to build from in the early stages of the 2022/23 season under our new manager Erik ten Hag. Manchester United@ManUtd A word from our CEO, Richard Arnold, on the ongoing developments at Manchester United.#MUFC2601268 A word from our CEO, Richard Arnold, on the ongoing developments at Manchester United.#MUFC "We have also continued to develop our women's team with an aim of reinforcing our position among the leading clubs in the Women's Super League."While there is a lot more work to do, everyone at the club is aligned on a clear strategy to deliver sustained success on the pitch and a sustainable economic model off it, to the mutual benefit of fans, shareholders, and other stakeholders." Poll : 0 votes Quick Links More from Sportskeeda Edited by S Chowdhury × Feedback Thank You! Be the first one to comment Follow Us Share Show More Comments GIF Comment in moderation 0 0 Reply x Edit Delete Delete the comment? No thanks Delete GIF Cancel Update GIF Cancel Reply ❮ ❯ GIF Comment in moderation 0 0 Reply x Edit Delete Delete the comment? No thanks Delete GIF Cancel Update GIF Cancel Reply ❮ ❯ Be the first one to comment on this story More from Sportskeeda Fetching more content... 1 Manage your profile Editing Story Queue Video Queue Editing Stats Writer Home SEO Redirection Admin Wiki Edits Taxonomy Home Edit Site Menu Mapping Dashboard Tag Pages Community Social Feed Queue Feed Center Notification Center Affiliate Home Manage Pages Bottom Tagline Dash Timeless Stories Logout No Results Found Get the free App now Manage notifications Popular Sports (30+) CricketCricket HomeScheduleT20 World CupT20 warm upIND vs SAENG vs PAKAUS vs ENGLegends LeagueECS T10 CroatiaWBBL 2022ECC T10SMAT 2022Bukhatir LeagueNZ T20 Tri-SeriesWomen's Asia Cup 2022ECT10 FootballFootball HomeNewslettersSK Experts ScheduleEPLNations LeagueLa LigaLigue 1Champions LeagueFIFA WCMLS Bundesliga Serie A WWEWWE HomeNewslettersRumor RoundupRAWSmackDownResultsRosterChampionsWWE Crown Jewel 2022PPV ScheduleAEW EsportsEsports HomeMinecraftOverwatch 2RobloxGenshin ImpactFortniteGTAStreamersFree FirePUBGValorantBGMIPop CultureAnimeGaming TechWiki Guides TennisTennis HomeTennis calendarTennis Results TodayATP RankingsWTA RankingsRoger FedererRafael NadalNovak DjokovicSerena Williams MMAMMA HomeUFC NewsONE ChampionshipUFC Fight NightScheduleRankingsResultsUFC Fights TonightONE Championship ResultsONE Championship ScheduleONE Championship Rankings KabaddiKabaddi HomePKL 2022PKL SchedulePKL Points TableKabaddi Rules WikiWiki HomeMinecraft WikiNaruto WikiTikTok WikiYoutube WikiGTA WikiTerraria WikiOne Piece Wiki MoreSportsBasketballIndian FootballNFLMinecraftFormula 1NascarPop CultureCollege FootballHockeyGolfAthleticsBadmintonGymnasticsWrestlingSwimmingTennisShootingBoxingArcheryWinter SportsRobloxFree PicksSkateboardingKho KhoLifestyle LINKS About Us Write For Us Policies Editorial Standards Journalism Awards Fact Check Affiliate Program Careers CSR Privacy Policy Contact Us Edition: English हिन्दी