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Manchester United's revenue drops, debts rise amid COVID pandemic

Premier League club Manchester United generated 509 million pounds in the year to June 30 -  a drop of 19 per cent.

Published: 21st October 2020 06:38 PM  |   Last Updated: 21st October 2020 06:38 PM   |  A+A-

Manchester United

Manchester United (Photo | AP)

By Associated Press

MANCHESTER: Manchester United's revenue dropped by almost a fifth because the team did not play in the Champions League and because it was forced to close its stadium to fans during the coronavirus pandemic, the English club said Wednesday.

The Premier League club, which is listed on the New York Stock Exchange, generated 509 million pounds (USD 665 million) in the year to June 30 -  a drop of 19 per cent.

Debt soared 133 per cent to 474.1 million pounds (USD 619 million), while there was a loss of 23.2 million pounds (USD 30 million).

While the team is back in the Champions League, there is no return of matchday revenue from supporters with games still being played in empty stadiums to contain the spread of the coronavirus.

United made only 5.5 million pounds (USD 7 million) in matchday revenue from April to June, compared to 23.8 million pounds (USD 31 million) the previous year.



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