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Manchester United financial Loses £3.3m To Covid-19 Pandemic

Manchester United recorded an overall loss of £3.3m between January 1 to March 31, which was primarily down to the 51.7 per cent decrease in broadcast revenue.

United revenue  has dropped 18.7 per cent over the prior year quarter to £123.7m as debt rose 42.2 per cent to £429.1m.

Chief financial officer, Cliff Baty, explaining that they will return £20m in television revenue even though the league is concluded.

United is making less money from broadcasting and matchday revenues,At £26m compared to £53.8m the previous year.

According to Baty, the Red Devils lost £8m in the last three weeks of March when three of their games were postponed.

He explained in a press conference that television broadcasters are getting the money due to the change of dates and time for the fixtures.

United are due to an estimated £15m Premier League rebate for non-participation in the UEFA Champions League, and the impact of playing two fewer Premier League away games”.

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