Proving there is ample reward for abject failure, the Glazers pocketed record dividends despite Manchester United losing over £2million a week.
Here are the five headline points from the Red Devils’ latest financial report, covering a miserable last year…
1) United made a loss of over £2million a week
The Red Devils announced a net loss of £115.5million for the 2021-22 season. That is despite revenues rising by 18 per cent to £583million.
Even with fans allowed back into stadiums and Old Trafford being full for most of last season, losses rose by £23million on the previous year.
That means United lost around £2.2million per week over the course of 2021/22. Coincidently around the same amount Cristiano Ronaldo might trouser by moving to Saudi Arabia.
2) Their wage bill is the highest in the Premier League
United paid their bloated, under-performing squad a total of £384.2million last year. Although some clubs are yet to announce their figures, that means the Red Devils have the highest wage bill in the league.
It shows a 19.1 per cent rise on the previous year, up by £61.6m, surpassing the previous £355million high set by Manchester City. Who are getting a sh*te-sight more for their money.
Had they been any good, the wage bill would have been even higher since many United players are on heavily-incentivised contracts.
3) United paid almost £25million to sack managers
Pay-offs to manager Ole Gunnar Solskjaer, sacked in November, and Ralf Rangnick, who did not take up a two-year consultancy role at the end of the season having initially assumed interim charge, and their associated coaching staff amounted to £24.7million.
That total is higher than the £19.6million paid for Jose Mourinho and his staff to f*** off at the end of 2018.
Since Sir Alex Ferguson’s retirement, United have paid a total of £57.9million to managers to sling their hook. David Moyes and his men pocketed £5.2million, while Louis van Gaal’s crew received £8.4million.
A reminder: United gave Solskjaer a new three-year contract four months before they got rid.
4) The club’s net debt rose by £94.5million
United’s net debt went up, from £419.5million in 2021 to £514.9million this year, an increase of more than 22 per cent.
The club put that rise primarily down to £64.6million of unrealised foreign exchange losses on the retranslation of borrowings in US dollars.
“Our financial results for fiscal 2022 reflect a recovery from the pandemic, a full…
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