The Red Devils lose money

The Covid 19 pandemic has dramatically affected many clubs and leagues worldwide. In some cases, they still struggle to recover from the financial losses suffered during the pandemic. There is no precise scenario of when they will be able to stabilize their finances and get back on their feet. This has put a lot of pressure on the clubs and leagues as they try to figure out how to keep their businesses afloat.

The problem is that clubs like those in the Premier League have to invest large sums of money in strengthening their rosters to compete in tournaments that generate high incomes. Therefore the situation is more complicated.

Take Manchester United as an example. The club presented net losses of 115 million pounds, about 130 million euros, for the 2021-2022 season. The club lost money despite total revenue rising 18% to £583m or €667m.

As we mentioned, the main expenses reported by the red devils are in player signings.

The cost of signing Cristiano Ronaldo, Jadon Sancho, and Raphael Varane increased United’s wage bill by 19.1%, to 440 million euros. Old Trafford has the highest salary sheet in the history of the Premier League, even above that of Manchester City, which has spent more money on high-caliber players.

As a result of the current financial situation, Manchester United’s debt increased by 22% to 514 million pounds.

Richard Arnold, executive president of the club, assured that the objective continues to be “to win games and make the fans enjoy themselves.”

However, it is imminent for the Red Devils to secure some Silvareware this season to breathe fresh air into their finances.