Manchester United in debt – level 3

Manchester United in debt

12-07-2024 07:00

Manchester United had the worst-ever Premier League season and has experienced significant financial losses.

The club lost 71 million pounds in the first quarter of the year, compared to just 5 million in the same period last year. Billionaire Jim Ratcliffe bought a 27.7% stake in United and is now in charge of football operations. Professor Kieran Maguire explains various factors that contributed to these losses. The club spent 30 million on legal costs related to Ratcliffe’s investment. Revenue was lower because they played fewer matches and didn’t progress far in competitions. Moreover, there were also exceptional costs and increased interest expenses.

However, Manchester United is still a popular brand, including a new 900-million-pound deal with Adidas. Under Ratcliffe’s control, there are plans for cost savings, including making 250 staff redundant and changing work practices to improve the club’s culture.

Difficult words: stake (a share or investment), factor (a fact or influence that contributes to a result), revenue (income generated from business operations).

You can watch the video news lower on this page.

What factors contributed to Manchester United's significant financial losses and what plans are in place to improve the club's financial situation?

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