Manchester United and Manchester City – This now shows financial chasm to Newcastle United | OneFootball

What do Manchester United, Manchester City and Newcastle United have in common.

This isn’t a trick question.

Nor is it a joke.

Well it is… but not a funny one.

Yes, all three are clubs in the Premier League, but that is in reality the only current connection.

Certainly from a financial point of view.

The recently released latest accounts (for the 2023/24 season, up to 30 June 2024) for both Manchester City and Manchester United (see below) simply spelling this out, the chasm that exists to Newcastle United.

After a decade and a half of Mike Ashley, Newcastle United were on their knees, both on AND off the pitch, especially financially.

That final season (2021/22) which kicked off under Ashley, ended up showing a turnover of £180m in the 2021/22 annual accounts.

Embarrassingly low and reflecting those 15 seasons we kicked off under an owner who sucked all the benefits of the club out for himself and his retail empire.

Under the new/current owners, that annual turnover increased to £250.3m for the 2022/23 season.

The 2023/24 accounts are set to be made public early in 2025 it is expected, but earlier this year, Newcastle United CEO said that they will show a turnover of £300m+ for the NUFC 2023/24 season.

However, massive reality check coming up, just compare those Newcastle United figures to Manchester City and Manchester United.

The Athletic reporting on latest Manchester City accounts (up to 30 June 2024) – 13 December 2024:

‘Manchester City have announced club-record revenues of £715million in their latest annual accounts, alongside profits of £73.8m.

City’s revenue has grown £2.3m since last year, while their profit is down slightly on the £80.4m they posted from the club’s treble-winning campaign, which was boosted significantly by prize money from winning the Champions League.

The report also highlights that City have made £405m in player sales over the past five years. That includes £139m for the current period — up until June 30 2024 — an increase on the £121.7m from the previous year. This, the club says, has driven the club’s profits.’

BBC Sport report on most recent Manchester United accounts (in year to 30 June 2024) – 11 September 2024:

‘Manchester United have reported a net loss of £113.2m in the year to 30 June, their latest accounts show.

It follows losses of £28.7m in 2022-23 and £115.5m in 2021-22, and their latest figures take total losses over the past five years to over £370m.

In addition to the long standing debt of $650m (£496.52m), United also have ‘total current borrowings’ of £35.6m, and the outstanding balance of the revolving credit facility on 30 June was £30.0m.

[Man] United say they expect to generate between £650m and £670m in revenue next year after recording a record £661.8m this year, while wages rose 10% to £364.7m.’

Manchester Evening News report on Manchester United record of signing players and how much currently still owe on them – 28 November 2024:

‘[Manchester] United’s transfer outlay exceeds over £1billion across the last six seasons, with Antony their most expensive signing across that period. In total, eight players have cost more than £50m each

In fact, according to finance expert Kieran Maguire, United owe £413m in instalments for player transfers [they are due £94m from other clubs on players sold] as viewed by their detailed accounts from the 2023/24 season. As well as this, the cost of United’s squad has gone above the £1bn mark and total borrowings has hit £714m.’

For any Newcastle United fans or neutrals who are kidding themselves that Eddie Howe and the Newcastle United owners are operating on some kind of level playing field as things stand, it would be naive in the extreme to believe anything close to that.