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+--- Thread: Manchester United : Record Profits & Major Losses. (/Thread-Manchester-United-Record-Profits-Major-Losses)
Manchester United : Record Profits & Major Losses. - Hyltz'. - 08-10-2010
First - The Good News:~
Today Manchester United were revealed as the first English club to smash through the £100million full-year operating profit barrier.
Now - The Bad News:~
Today, Manchester United also announced an overall loss of £83.64million.
The Good News:~
The club have managed to maximise profits and popularity by use of the Manchester United Brand worldwide.
The Bad News:~
Interest paid on their loans accounted for a whacking £40million while the club had also to find a very substantial 'one-off ' payment for this years successful £504million Bond Issue.
The Good News:~
Turnover was increased to £81.4million. (Up £11.5million)
Media Revenues increased to £104.8million. (Up £5.1million)
United's overall turnover = £286.41million.
The Bad News:~
Revenue from players sold was well down for the year. (Given last years world record Cristiano Ronaldo sale to Real Madrid)
Income from matchdays fell to £100.2million. (Down 7.9%)
Wages increased to £131.7million. (Up 7%)
United's overall debt increased to £521.7million.
The Worrying News:~
No mention in the accounts of the Glazer's taking any monies out of the club to pay for their £200million-worth of PIK notes. (Interest of which stand currently at 16.25%)
Undoubtedly the losses will be seen as proof, by some supporters, as the reason United have now ceased to feature at the top of the transfer market.
Should we all really start thinking along those lines, or do we stick with SAF's ongoing statement that "value for money is becoming increasingly harder to find" ?
(Bearing in mind that both he and David Gill constantly insist that "the funds would be made available if they were required" ?
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Should we all really start thinking along those lines, or do we stick with SAF's ongoing statement that "value for money is becoming increasingly harder to find" ?
(Bearing in mind that both he and David Gill constantly insist that "the funds would be made available if they were required" ?
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RE: Manchester United : Record Profits & Major Losses. - ManUtdPeople - 09-10-2010
That's a great post, +Rep.
Thanks friend.