Manchester United Lost 113 Million Pound Despite Reaching Record Revenue

JAKARTA - Manchester United recorded a net loss of up to 113.2 million pounds after an increase in investment in players.

The latest financial bookkeeping information was conveyed by the new CEO of Mancheste United, Omar Berrada.

In fact, on June 30, 2024, The Red Devils have just announced a record full-year earnings of 661.8 million pounds.

United have recorded a loss of more than 90 million pounds in three of the last four years. The last time the team really came true was in 2019.

However, according to ESPN sources, The Red Devils insist that the club remains committed "to complying with Premier League earnings and sustainability regulations and UEFA's Financial Fair Play rules.

The Premier League allows a loss of 105 million pounds over a three-year period. However, there are provisions for allowed losses, including investment in infrastructure and the development of young players.

"We are all very focused on working together to create a bright future with football's success as the core of it," said Berrada.

"We are trying to achieve better financial sustainability and make changes to our operations more efficient, to ensure we direct our resources to improve performance on the ground."

"Our clear goal is to return the club to the top of European football. Everyone in the club is in line with a clear strategy to provide sustainable success, both on and off the pitch, for the main benefit of fans, shareholders, and various very diverse stakeholders," said Berrada at ESPN.

United spent more than 180 million pounds recruiting five new players during the latest summer exchange, including Matthijs de Ligt, Joshua Zirkzee, and Manuel Ugarte.

Expenditures for the squad have stepped up pressure on Manager Erik ten Hag who was tasked with making a fine performance on the pitch, especially after an embarrassing 0-3 home defeat to Liverpool.

However, Berrada has reaffirmed the club's commitment to the Dutch manager ahead of a series of key matches in the English League, Carabao Cup, and Europa League before the international break in October 2024.

"We have strengthened our first team with five players who are attractive and implemented a new football leadership structure to provide greater support to our managers," he said.