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Wednesday, December 11
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Manchester United net debt rises by more than 55%

:Headline: Manchester United net debt rises by more than 55%: ID:379796: from db_amp
Revenue is up by £400,000 on the same period last year but the club are expecting the 2020 annual results to be down.
PA | 22d

Manchester United have posted revenues of £135.4million for the first quarter of 2019-20.

The figures represent a £400,000 increase on the same period for the previous year.

Commercial revenue was £80.4million, a 5.9 per cent increase on the previous year, the club said in a financial statement.

United are expecting 2020 annual revenue to be down this year to somewhere between £560-580million, compared to £627.1million for the year ending June 30, 2019.

In part that will be due to the club's lack of Champions League football this season. Broadcasting revenue for the quarter was £32.9million, a 23.1 per cent and £9.9million drop on the same quarter the year before.

The figures published on Monday cover the period July 1, 2019 to September 30 of this year.

One of the most eye-catching points on the balance sheet is the increase of net debt, from £247.2million to £384.5million, a rise of 55.5 per cent.

“Our ultimate goal is to win trophies by playing exciting football with a team that fuses graduates from our academy with world-class acquisitions.”
- Ed Woodward

The club's wage bill has dropped by 8.8 per cent "primarily due to reductions in player salaries as a result of non-participation in the UEFA Champions League", the statement said.

United's executive vice-chairman Ed Woodward said: "We have a clear vision in terms of football philosophy and recruitment.

"The significant investments that we have made in recent years in areas such as transfers, recruitment infrastructure, analytics and our academy are already beginning to bear fruit.

"We are very proud to be shortly approaching a milestone 4,000th game featuring an academy player, and we are particularly optimistic regarding the considerable young talent currently coming through.

Marcus Rashford came through the club's academy (Martin Rickett/PA)

"Our ultimate goal is to win trophies by playing exciting football with a team that fuses graduates from our academy with world-class acquisitions."

United's on-field fortunes have improved in recent weeks after pressure had been growing on manager Ole Gunnar Solskjaer.

The team have won five of their last six matches in all competitions, and prior to that claimed a 1-1 draw at league leaders Liverpool.

They are seventh in the Premier League, nine points adrift of the Champions League qualification places.

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Premier League Table
TeamPWDLFAGDPTS
1Liverpool16151040142646
2Leicester CityLeicester16122239102938
3Manchester CityMan City16102444192532
4Chelsea169253124729
5Manchester UnitedMan Utd166642519624
6Wolverhampton WanderersWolves165922319424
7Tottenham HotspurSpurs166553023723
8Sheffield UnitedSheff Utd165741916322
9Arsenal165742424022
10Crystal Palace166461418-422
11Newcastle UnitedNewcastle166461723-622
12Brighton & Hove AlbionBrighton165472024-419
13Burnley165382129-818
14Everton165291928-917
15Bournemouth164481824-616
16West Ham UnitedWest Ham164481828-1016
17Aston Villa164392328-515
18Southampton164391835-1715
19Norwich CityNorwich1632111734-1711
20Watford16169930-219
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Premier League Table
TeamPWDLFAGDPTS
1Liverpool16151040142646
2Leicester CityLeicester16122239102938
3Manchester CityMan City16102444192532
4Chelsea169253124729
5Manchester UnitedMan Utd166642519624
6Wolverhampton WanderersWolves165922319424
7Tottenham HotspurSpurs166553023723
8Sheffield UnitedSheff Utd165741916322
9Arsenal165742424022
10Crystal Palace166461418-422
11Newcastle UnitedNewcastle166461723-622
12Brighton & Hove AlbionBrighton165472024-419
13Burnley165382129-818
14Everton165291928-917
15Bournemouth164481824-616
16West Ham UnitedWest Ham164481828-1016
17Aston Villa164392328-515
18Southampton164391835-1715
19Norwich CityNorwich1632111734-1711
20Watford16169930-219
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