Manchester United report revenue drop of 18.8 per cent for year ending June 2020
Manchester United’s revenue shrank by almost 20 per cent in the year ending June 2020 compared to the previous financial year as the impact of the coronavirus pandemic affected the club on a number of fronts.
The club posted total revenue of £509million for 2019-20, compared to record revenues of £627.1m in 2018-19, representing a drop of 18.8 per cent.
Revenue had been projected to drop to between £560m and £580m this year because of the club not being involved in the Champions League, but they withdrew the forecast figure when they published their third-quarter results in May because of the impact of the Covid-19 outbreak.
Broadcasting revenues fell sharply from £241.2m to £140.2m, a drop of 41.9 per cent.
United also suffered as a result of the absence of supporters from Old Trafford from March onwards.
Their matchday revenue fell 19 per cent to £89.8m.
Net debt more than doubled from the previous year to £474.1m, which the club said reflected the impact of deferred sponsorship payments of £80m, the loss of advance matchday revenue for 2020-21 which would typically be in excess of £50m ahead of a Champions League season and an increase in player investment.