Clubs, English Premier League, Manchester United, Story

Julien Laurens says Man United have high cash reserves for the summer, after the club announced being £429M in debt.
Don Hutchison finds it hard to argue with Gary Neville over his pick for the best Prem front three of all time.
Jesse Lingard expects Manchester United to continue their 11-game unbeaten run once football resumes.
Following praise from Tottenham’s Sessegnon, Manchester United’s Aaron Wan-Bissaka explains his ‘Spiderman’ nickname
ESPN FC’s Mark Ogden discusses why Paul Pogba could stay at Manchester United despite interest elsewhere.
Julien Laurens expresses doubt over Man United not being able to make major transfer moves in the summer.

Manchester United have announced their debt has risen close to £430 million in their latest financial figures.

The Premier League club’s third quarter results revealed net debt has increased by £127.4m to £429.1m as football across Europe comes to terms with the coronavirus pandemic.

Stream new episodes of ESPN FC Monday-Friday on ESPN+
– Stream every episode of 30 for 30: Soccer Stories on ESPN+
– Notebook: Lloris’ guard dog, Man Utd calm on Gomes

The net debt rose due to foreign exchange costs and transfer fees paid for the players including Harry Maguire and Bruno Fernandes

Executive vice-chairman Ed Woodward described the “challenges” created by the coronavirus that meant United have not played a competitive game since March 12.

United have also said they expect to pay broadcasters a rebate of around £15m because of the outbreak “following delay and broadcast schedule changes to the 2019-20 season.”

“Our focus remains on the health and well-being of our colleagues, fans and partners around the world and we are extremely proud of how those connected to the club have responded during this crisis,” Woodward said.

“Since the start of the pandemic, Manchester United and our Foundation have provided assistance to hospitals, charities and schools in our communities, as well as support for frontline workers and vulnerable fans.

“These actions reflect our core values as a club and the resilience through adversity that we have demonstrated many times throughout our long history and will do so again to weather these current challenges.”

Elsewhere in the release of the official figures, broadcasting revenue fell by £27.8m to £26m — a decrease of 51.7% —  and matchday revenue for the quarter was also down, by £2.6m to £29.1m.

Despite uncertainly off the pitch, Woodward has backed manager Ole Gunnar Solskjaer’s team to pick up where they left off if the season is allowed to restart in June. United are on an 11-game unbeaten run and can still challenge for a place in the top four, as well as battling for silverware in the FA Cup and Europa League.

Despite football finances taking a hit, the club have also revealed a cash reserve of around £90m ahead of the next transfer window with access to another £150m.

“We look forward to the team safely returning to the pitch and building on the exciting momentum that Ole and the players had previously achieved, while taking all necessary steps to protect public health,” Woodward added.

“Our thoughts remain with all those affected during this unprecedented time.”

Source link

Products You May Like

Leave a Reply

Your email address will not be published.