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Man Utd lost £21.7m in the first quarter of 2021

Fri 18 June 2021 | 12:13

Manchester United have lost £21.7 million loss in the quarter due to the coronavirus pandemic.

Manchester United

stated that matchday sales have slumped to £1.6 million in the first three months of 2021 which is a £21.7 million loss compared to £29.1 million a year earlier. Total revenue also slid 4.4% from last year.

The

Premier League

club believe this loss is because of the absence of fans at their stadiums as executive vice-chairman

Ed Woodward

said that it proved spectators were "the lifeblood of the game,” according to

Sky Sports

.

The 20-time English champions did not provide a forecast and Woodward said it "remains optimistic about the prospect of fans returning to Old Trafford in larger numbers.”

Old Trafford, with a total capacity of 75,000, only saw the return on 10,000 supported in May.

Manchester United, who finished second in the Premier League for the 2020/21 season, then saw a 125.4% rise in broadcasting revenue in the quarter which was due to the five additional league games played during the period this year.

However, all the games were played without any spectators and behind closed doors and therefore the club’s Megastore retail outlet stayed shut which caused a slump in matchday and retail, merchandising apparel, and product licensing revenues.

Total revenue fell 4.4% to £118.3 million.

Woodward is also going to step down at the end of 2021 according to the club as he drew heavy criticism from fans and European football's governing bodies for his involvement in the breakaway European Super League project.


source: SportMob