Manchester United have reported a record revenue of £648.4 million for the year ending June 2022, the highest ever in the history of the English Premier League.
The figure represents an 11% increase compared to the previous year and surpasses United’s own previous record set in 2019.
However, the club still recorded a loss of £42.1 million for the period.
The substantial revenue was achieved despite the club competing in the Europa League rather than the more lucrative Champions League last season.
United have predicted revenues between £650 million and £680 million for 2023/2024, demonstrating their strong financial footing.
The results come as Sir Jim Ratcliffe, founder of INEOS chemicals, is reportedly close to securing a 25% stake in the club.
This would give Ratcliffe control over football operations while the Glazer family retain overall ownership.
The Glazers announced last year they were considering “strategic alternatives” for the club including a potential sale.
While revenue grew, United’s wage bill fell by £52.8 million to £331.4 million, attributed to squad turnover and absence from the Champions League.
No dividends were paid to the Glazer family, and the club’s long-term debt remained unchanged at £507.3 million.
Qatari investor, Sheikh Jassim, recently withdrew his interest in a full takeover, which was said to involve clearing the club’s debts.
The Glazers now look set to maintain control with Ratcliffe coming in with a minority stake.
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