Manchester United reports pre-tax loss of £80m

skinz

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Manchester United reports pre-tax loss of £80m

BBC News - Manchester United reports pre-tax loss of £80m

The club has substantial debt repayments Manchester United, hit by one-off finance charges and reduced revenues from the sale of players, has reported an annual pre-tax loss of £79.6m.

The loss for the 12 months to 30 June compares with a profit of £48m for the year before, when revenues were boosted by the £80m sale of Cristiano Ronaldo.

The club's one-off finance charges during the past year totalled £67m. It also paid £40m in interest payments.

While its match-day turnover fell, this was offset by commercial earnings.

The club's overall annual turnover increased to £286.4m.

Matchday turnover fell from £108.8m to £100.2m, which the club said was a result of it not progressing as far in the Uefa Champions League last season as it had in the season before.

In the 2009-10 season Manchester United made it to the quarter finals of the competition, while the season before it lost in the final to Barcelona.

Its media turnover rose from £99.7m to £104.8m, thanks in part to higher TV payments from Uefa.

Commercial turnover increased from £69.9m to £81.4m, because of increased sponsorship revenues.

The £40m spent on interest payments was the same as a year earlier.

Operating profit - which does not include the cost of servicing the club's debts - also rose, reaching £100.8m, compared with £92m a year earlier.

The one-off finance charges are linked to Manchester United's £504m bond issue back in January, which enabled the club to pay back most of its bank debt.

While it has to pay a similar level of annual interest on the bonds, the move freed the club from the tougher financial conditions imposed by the banks.

Fan protest

Manchester United was bought by the US-based Glazer family for £800m in 2005.

Critics say the family has saddled the club with massive debts, and this has led to protests by supporters' groups.

Many fans are continuing to boycott the team's traditional red shirts and scarves, and instead wearing green and gold, the original colours of Newton Heath, the amateur side which was founded in 1878 and went on to become Manchester United.

A group of wealthy Manchester United supporters known as the Red Knights also proposed making a takeover bid.

However, they put their plans on hold in June, saying media speculation of "inflated valuation aspirations" had hampered their plans, and that they would only pay a sensible price for the club.

Officials at Manchester United have constantly reiterated that the club is not for sale, and that the Glazer family are not open to any offers.
 

stevie1ball

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Think the Yanks have been sent over here to cripple the Premiership that Liverpool and Manchester United gone from profitable to making an annual loss, lets keep English Football English.
 

imranrasool

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Think the Yanks have been sent over here to cripple the Premiership that Liverpool and Manchester United gone from profitable to making an annual loss, lets keep English Football English.

lmfao, English football is far from English. Having English owners wont make it English. Giving English youngsters a chance will, but when they are so over priced and over hyped no wonder the English clubs look abroad for talent, which in fact is now equally over priced.

But yet know what you mean, how about we get some actual football fans for owners rather than rich foreigners who have little interest in the game and use it for nothing more than a conversational piece.
 
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NL7

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lmfao, English football is far from English. Having English owners wont make it English. Giving English youngsters a chance will, but when they are so over priced and over hyped no wonder the English clubs look abroad for talent, which in fact is now equally over priced.

But yet know what you mean, how about we get some actual football fans for owners rather than rich foreigners who have little interest in the game and use it for nothing less than a conversational piece.

.....rooney!
 

prag

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.....rooney!

And the real Irony is your best players a scouser LMAO ROTFL :Clap:
And for all those mancs laughing at LFC right now! Guess what your TURN NEXT muhahahahaha
 

NL7

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Imagine where we'd be as a club if we didnt have them yank owners!!

in all honesty m8 i know the glazers have been tw*ts and i hope they f*ck off asap but you cant deny that over the last decade or so our success and some of our best football has come under them... obviously what has happened on the pitch isnt down to them but they've let fergie do his thing without interferring... it coulda been a lot worse and we could have w*nkers like gillet & hicks who have made lpool currently a laughin stock or someone like abramovich who was meddling around with mourinho and pressured him into signing shevchenko... if it wasnt for the debt hanging over the club, personally i think they'd be great owners...

glazers have also spent, obviously not mad like chelski and man shitty but at the start of the double winning season they brought in hargreaves (£17m), anderson & nani (approx £15m each) and an initial outlay on the tevez loan (£10m). this was followed by berbatov the season after for £30.75m... Now if i was the glazers i'd be worried about dishin out amounts like the £17m + wages, medical treatment etc on someone like hargreaves coz its money down the pan..... especially when his injury problems were known to the club, medics etc....... same situation with berbatov. up until today, even with the gr8 start to his season, the £30.75m spent on him just isnt possible to justify......

next summer will be a big one for the glazers coz realistically they're gonna have to splash some cash... i can see (well i hope lol) neville, scholes and giggs retiring possibly along with van der sar. thats 4 players just gone. they're gona need replacing with some quality players..... yes we have replacements at the club currently in anderson, rafael, obertan and bebe but fergie never seems to give them a chance...

all in all i like the vast majority of utd fans want the glazers to p*ss off but we could be in a far worse position.....
 
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