Struggling Man Utd spend £391m on wages a year as club debt hits half a billion pounds

0

MANCHESTER UNITED pays its players £391million in wages a year despite their struggles on the pitch.

The Premier League giants released their financial records today – and there are some startling figures.

2

The Glazers are desperate for some success on the pitch to recoup some of the club’s lossesCredit: News Group Newspapers Ltd

The clubs say the pay rise to £97.7m is due to ‘investment in the first-team squad’.

It takes the three months until December 31, with United comparing figures quarterly.

The wages figure published in the November publication showed United wages standing at £354million a year.

This was after the club splashed out mega-money for Jadon Sancho, Raphael Varane and Cristiano Ronaldo.

Ronaldo, who is currently going through a goal-scoring barren spell, is said to earn around £510,000 a week.

Goalkeeper David De Gea pockets around £375,000 a week.

FREE BETS: GET OVER £2,000 NEW CUSTOMER OFFERS

United have also revealed that the club’s debt is almost half a BILLION pounds at £494.8million.

This is an increase of 8.6% compared to the same quarter in 2020.

Total operating expenses for the quarter were £179.7 million, an increase of £41.1 million, or 29.7%, over the prior year quarter.

The document also reveals that Ole Gunnar Solskjaer’s compensation for being sacked was around £7m.

The total costs of ‘exceptional items’ came to £10million – the members of the coaching staff who were also paid.

Overall, the club’s half-year revenue is up 7.3% on the same period in 2021, to £185.4million.

Results reflect continued strength in our sponsorship revenue, supported by record digital fan engagement

Man Utd Chief Financial Officer

But the absence of fans at Old Trafford due to the pandemic is still being worked out, which could affect those numbers.

Richard Arnold, who was recently appointed as United’s new chief executive, held a press conference today.

A statement from United’s Chief Financial Officer read: “For the second fiscal quarter of 2022, we delivered robust revenue growth of 7.3% despite the postponement of two matches in the quarter due to Covid-19 .

“The results reflect the continued strength of our sponsorship revenue, supported by record digital fan engagement, in addition to the return of more standardized operations on matchdays.

“We look forward to the rest of the year with optimism.”

United face a battle to break into the top four this season, two points clear of fifth-placed West Ham.

Ralf Rangnick was the man tasked with replacing Solskjaer but is expected to move into a consultancy role at the end of the season.

The process is underway to determine who will take the heavy lifting at Old Trafford, with PSG boss Mauricio Pochettino and Ajax’s Erik ten Hag reportedly the favourites.

In January, SunSport reported that United’s earnings were lower than City’s for the first time ever.

City recorded operating income of £537million for last season, a jump of around 17% on the previous 12-month period.

It also eclipsed the £464m generated from broadcast, matchday and citywide commercial revenue at Old Trafford.

This report – produced by consultants KPMG – highlighted the impact of the pandemic on the top tier of English football.

Cristiano Ronaldo is United's highest earner

2

Cristiano Ronaldo is United’s highest earnerCredit: Reuters

⚽ Read our Manchester United Live Blog for the latest news and transfer gossip from Old Trafford

Share.

Comments are closed.