Ed Woodward 'more confident than ever' despite £36.9m loss

Fri 17 September 2021 | 13:16

Covid-19 pandemic dealt a huge economic blow to football clubs.

Manchester United

finished last season with a operating loss of £36.9 million due to the effects of Covid-19

United recently announced in their financial report that in the first quarter of the Coronavirus pandemic, the club's revenue fell from £627.1 million to£ 509 million. Also in the fiscal year ending June 30, 2021, the club's revenues fell to 494.1 million pounds. In addition, after qualifing for the Champions League, the club's salary increased by 13.6% to £322.6m.

Club's executive vice-chairman, Ed Woodward said:

"It has been an exciting start to the season at Old Trafford, with capacity crowds in attendance for the first time in almost 18 months.

"We were delighted to welcome back Cristiano Ronaldo to the club, along with Raphael Varane, Jadon Sancho and Tom Heaton, to further reinforce the progress that our first team has been making under Ole.

"This was made possible by the strength of our operating model, with sustained investment in the team underpinned by robust commercial revenues.

"Everyone associated with Manchester United can be proud of the resilience we have shown through the challenges created by the pandemic, and we look forward to the rest of the season and beyond with great optimism."

source: SportMob

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