United Manchester's football club reveals massive income of £666.5 million, yet still endures a financial deficit despite shedding 400 positions
Manchester United, one of the world's most iconic football clubs, is currently undergoing a significant period of change, both on and off the pitch.
In a recent statement, the club's CEO, Omar Berrada, did not name any players in reference to the under-pressure boss Ruben Amorim. This comes as the club grapples with the challenges of the current season.
Financially, the club has faced some setbacks. Despite cutting 400 backroom jobs and reporting record total revenues of £665m, including £160.3m in Old Trafford gate receipts, United made a loss last year. The club's cost-cutting measures, however, have contributed to shaving £51m off the club's wage bill.
The club's restructuring programme, aimed at making the entire organization more efficient and sustainable, has seen the total head count of staff shrink from around 1100 employees to just 700 over the past year. This restructuring has also led to job losses at Old Trafford and the Carrington training ground, with free lunches being axed as well.
The club has also faced controversy with the implementation of controversial ticket price rises to help generate Old Trafford gate receipts.
On a positive note, United's commercial business remains strong. The first year of the five-season shirt deal with Snapdragon and other new partnerships has seen commercial income soar to £333.3m. The club's commercial endeavours continue to deliver appealing products and experiences for fans and best-in-class value to partners.
Looking ahead, United is planning to develop a new stadium at Old Trafford as part of a transformational regeneration of the surrounding community. The club's priority, both on and off the pitch, is to return to the Champions League.
The club has also made significant investments in the transfer market, spending £215m in the summer window on Matheus Cunha, Bryan Mbeumo, Benjamin Sesko, Senne Lamens, and Diego Leon.
Despite the ongoing challenges, the overriding priority for United remains success on the pitch. The club's focus is on rebuilding, rejuvenating, and returning to the pinnacle of English and European football.
