British football club Manchester United in the first quarter of the 2020/21 season received a net loss of € 33.8 million, according to the club’s financial statements. At the end of the same period last year, the club recorded a net profit of € 1.2 million.
The British club’s revenue for the reporting period decreased by 19.5% to € 121.4 million. At the same time, match revenues fell by 92.3% to € 1.9 million, the club’s revenue from the sale of media rights increased by annual terms 44.7% and amounted to € 53 million.
Commercial revenue of Manchester United decreased by 25.7% – to € 66.5 million. At the same time, revenues from sponsorship contracts decreased by 31.9% to € 40.7 million, revenues from the sale of merchandise – by 13.4% to € 25.8 million.
The football club’s operating expenses in the first quarter decreased by 9.5% – to € 137.6 million. Labor costs amounted to € 80.1 million (up 2.4% year-on-year), other expenses – € 18.1 million (down 46.4%).
Earlier, Manchester United provided data on financial results for the 2019/20 season.
However, it is still one of the richest football clubs in the world.
FC Manchester United finished 4th in the English Premier League in the 2019/20 season and qualified for the group stage of the UEFA Champions League. Now it’s going 14th in the English Premier League 2020/2021 only with 10 points after 7 matches. It backs off the Leicester, who’s going at the 1st place, by 8 points. Manchester United fans will be hopeful that the team can compete for trophies this season.