Manchester United make £118.3m in revenue in the first quarter of 2021
According to the Daily Mail, Manchester United have suffered a 4% dip in revenue for the first three months of 2021.
Figures for January to March illustrate that the Red Devils made £118.3million compared to £123.7m for the same period last year. This loss comes in the midst of the ongoing coronavirus pandemic.
A drop was observed in the matchday, commercial and sponsorship revenue. They were all down by £27.5m, £10.5m and £8.9m respectively. On a positive note, that was partly offset by a £32.6m increase in broadcasting revenue.
A major reason for the drop is the lack of audience for the majority of the 2020/21 campaign. This is acutely represented the massive dip in matchday revenue that nosedived from £29.1m to £1.6m, a 95% drop.
With matches being held behind closed doors, the club experienced an operating loss of £21.6m for the period. United also ended up paying £10.7m in dividend payments to shareholders. This was a payoff that Red Devils co-chairman Joel Glazer defended at a recent fans’ forum.
Financial results also revealed that the club’s net debt stood at £443.5m.
Despite the setbacks, outgoing executive vice-chairman Ed Woodward os optimistic about the future. With the worst of the pandemic hopefully behind us, we can look forward to a more successful 2021/22 season both on and off the field.
“With the foundations for long-term success in place, including significant initiatives to strengthen engagement with our supporters, we look forward to the upcoming season.”
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Given the circumstances, it was always evident that we would have made a loss. If anything, it proves once and for all that fans are the true lifeblood of the club.
