Pranav Nair
Manchester United axe US-based company Toppan Merrill for releasing financial results early
According to Daily Mail, Manchester United have parted ways with financial firm Toppan Merrill.
The United States based institution bit the bullet for publishing the club’s quarterly financial results a day early. This unexpected incident did not find favour among those at Old Trafford.
As per the report, the error was put down to a test run. It has done them little help as the Americans are no longer working with the club.
The figures showed the adverse impact the Covid pandemic had on commercial, matchday and total revenues. United posted an operating loss of £27.1m, however, they have seen the renewal of three sponsorship deals and record e-commerce sales. (h/t Daily Mail)
United’s net debt increased to £440.6m, but the gross principal debt remains unchanged. Matchday revenue was the biggest casualty with a 92.3% dip. (h/t The Daily Mail)
Doing alright on the pitch!
While the club’s financials may have taken a hit, the club is doing well on the field. Sunday’s win over Manchester City not only gave us bragging rights but also saw us retain faint yet possible hopes of winning a 21st league title.
Next up is European giants AC Milan in the Europa League last 16 on Thursday. Both sides put up a show to remember during the 2006/07 season, with the Italians winning 5-3 on aggregate.
Hopefully, the result will be different this time as we hope to win the first trophy under Ole Gunnar Solskjaer.
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United last won a major trophy in 2017. It is now close to four years since the club saw success on the pitch. While financials are a concern, it will matter little to fans if the club continues to fall short on the pitch.
