Man Utd suffer heavy revenue hit; double than expected

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Tribal Football

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Manchester United have suffered double the loss in revenue than expected this year.

The Mirror says United's revenues have taken a £71million hit on top of what the club expected, according to their year-ending financial figures, released today.

Before the UK lockdown, United had estimated their revenue to be between £560m to £580m, down on the previous year's record £627.1m.

But the figure ended up being £509m, down £118m in total, almost double what the club had anticipated.

With matches played behind closed doors since the resumption of football, United's matchday revenue for the year was £89.8million, a decrease of £21m over the prior year.

Commercial revenue for the year was £279million, an increase of £3.9million, or 1.4%, over the prior year.

United's retail revenue was £96.3million, a decrease of £5.8m on the prior year, due to the closure of the Old Trafford Megastore from March to June.

Broadcasting revenue for the year was £140.2m, a decrease of £101m, due to United not being involved in the Champions League, plus the impact of 10 home and away matches from last season being played at the start of the new financial year.

United extended their shirt sponsorship deal with Chevrolet by six months, to December 2021, to address the financial impact of the Covid-19 lockdown.

The net debt increased by £271m from £204m last year.