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Manchester United project record revenues ahead of Jim Ratcliffe investment
Manchester United project record revenues ahead of Jim Ratcliffe investment
Manchester United have announced record revenues of £648.4m for the last financial year and expect to bring in even more revenue this season. But they made a net loss of £28.7m, despite cutting their wage bill by £52.8m – partly because they were not in the Champions League but also for a season when the best-paid player, Cristiano Ronaldo, left part way through the campaign – after expensive transfers. Their accounts cover a 12-month period ending on 30 June, in which they signed Mason Mount this summer but also made the expensive purchases of Casemiro, for £63m, and Antony, for £86m, in 2022. United paid out £331.4m in salaries to their players last season, a sum that is likely to rise for the current financial year because salaries are raised when they are competing in the Champions League. With the added income of playing in Europe’s premier continental competition, United anticipate a revenue of between £650m and £680m this year. United also said that, for the first time since 2016, no dividends were paid to the owners, the Glazer family. The club’s debt remains at £538m while they also owe an additional £106m with a revolving credit facility. United paid £21.4m in net finance costs over the 12 months – down £40.8m, partly due to a change in exchange rates. United’s broadcasting revenue dropped £5.8m last season as they counted the cost of playing in the Europa League, a consequence of a sixth-place finish in the Premier League in 2021/22. But their commercial revenue reached a new high of £302.9m, up £45.1m, which was driven by a £41.6m rise in sponsorship income. United have since signed a 10-year £900m kit deal with Adidas, which is likely to lead to a further increase in commercial revenue. United’s matchday revenue also went up by £25.9m to £136.4m, aided by a host of home games during their runs to the FA and Carabao Cup finals. For much of the last year, United have been for sale, with Sir Jim Ratcliffe and Ineos expected to take a 25 per cent stake in the club. Read More Lauren James to miss England’s games against Belgium with concussion Manuel Akanji: Manchester City are ready to win the derby at Old Trafford Esme Morgan pleads for patience and politeness from England’s autograph hunters
2023-10-26 21:29
Missing millions at top Costa Rica bank spark investigation
Missing millions at top Costa Rica bank spark investigation
SAN JOSE Costa Rica's attorney general's office has opened an investigation into the disappearance of some $6 million
2023-10-25 06:26
Nidec Plunges Most Since 2011 After EV Malaise Hits Profit
Nidec Plunges Most Since 2011 After EV Malaise Hits Profit
Nidec Corp. slumped the most in more than 12 years after reporting quarterly earnings that missed estimates, underscoring
2023-10-24 13:56
Why Wall Street’s Climate Efforts Are Failing
Why Wall Street’s Climate Efforts Are Failing
Over the last few years, an ecosystem of climate pledges, groups and models has expanded on Wall Street
2023-06-23 18:00
Class in session: Braves pitcher had an incredible side-gig when called up
Class in session: Braves pitcher had an incredible side-gig when called up
Allan Winans starred in the Atlanta Braves' masterful 21-3 shellacking of the New York Mets last week. Before the call-up, he was pitching for Triple-A Gwinnett -- and working a commendable side gig.The Atlanta Braves have been the kings of New York lately. The peak of their reign was Satur...
2023-08-20 05:56
Josef Martinez to leave Inter Miami after 2023 MLS campaign
Josef Martinez to leave Inter Miami after 2023 MLS campaign
Inter Miami head coach Gerardo 'Tata' Martino revealed Josef Martinez will not form part of the team in 2024.
2023-10-23 00:30
5 memorable races staged at Silverstone
5 memorable races staged at Silverstone
Lewis Hamilton and Co will this week descend on Silverstone for the British Grand Prix. Here, the PA news agency looks at five key races staged at the Northamptonshire venue. 1987 Nigel Mansell was forced to pit for a new set of tyres after reporting vibrations on his Williams. With 30 laps remaining he was the best part of half-a-minute behind his team-mate and fierce rival Nelson Piquet. The chase appeared impossible but, spurred on by his home crowd, Mansell smashed the lap record on nine occasions before catching and passing Piquet after an exquisite move at Stowe with only two laps left. The home crowd were euphoric and Mansell responded by leaping out of his Williams and kissing the tarmac. 1994 Michael Schumacher illegally overtook pole-sitter Damon Hill on the parade lap and was punished with a stop-and-go penalty – which he ignored. He was issued with a black flag – which should have resulted in his instant disqualification – but Schumacher kept driving before serving his stop-and-go punishment on lap 27. Hill went on to claim a crucial victory and was presented the winner’s trophy by Princess Diana. Schumacher finished second, but he was later disqualified and banned for two races. 1998 Schumacher was at the centre of controversy four years later after winning – while stationary in the pit-lane. Mika Hakkinen led from the start, but as the rain fell and conditions deteriorated, the Finn lost control of his McLaren and spun. The safety car was deployed, and while Hakkinen remained in the race, he had sustained damage to his front wing. His 40-second lead was wiped out and Schumacher looked odds-on to win. However, Schumacher had illegally passed Alexander Wurz under a yellow flag, which resulted in a stop-and-go penalty. But the haphazard stewards only announced his punishment with two laps left. At the end of the final lap, Schumacher entered the pits to serve his penalty, but had already crossed the start-finish line and won the race. The bizarre result stood despite McLaren’s protests. 2008 Lewis Hamilton arrived at his home race fourth in the drivers’ standings but left on top after storming to victory in one of his outstanding performances. In torrential rain, Hamilton blitzed the field, finishing the race almost 70 seconds ahead of second-placed Nick Heidfeld and lapped the entire pack up to third. Hamilton’s championship rival Felipe Massa spun five times. 2021 Hamilton sent Max Verstappen into the wall at Copse following a devastating 180mph collision. Verstappen was taken to hospital with concussion, while Hamilton was hit with a 10-second penalty. Hamilton served his punishment and fought back through the field, passing Ferrari’s Charles Leclerc in the final laps to take a remarkable, if not controversial, victory. Read More Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live David Coulthard looks at the key issues surrounding Lewis Hamilton’s next deal Phenomenal circuit and incredible atmosphere – Mark Webber remembers Silverstone It hurts – Lando Norris reflects on his ‘toughest season’ ahead of British GP
2023-07-05 17:00
Ferrari’s New Plant for Electric Supercars to Be Ready Next Year
Ferrari’s New Plant for Electric Supercars to Be Ready Next Year
Ferrari NV new factory making electric supercars as well as next-generation powertrains will be ready from the middle
2023-06-05 23:41
Splitgate Beta Season 2 Brings New Game Modes, Remasters Abyss
Splitgate Beta Season 2 Brings New Game Modes, Remasters Abyss
Splitgate Beta Season 2 brings new game modes, a remastered Abyss, and a host of other improvements to the game when it goes live Thursday, June 2.
1970-01-01 08:00
The Ultimatum’s Mal Wright Can See Your Thirsty DMs. Everybody Calm Down
The Ultimatum’s Mal Wright Can See Your Thirsty DMs. Everybody Calm Down
Mal Wright refuses to wreck your home (even if you ask her nicely). The breakout star of Netflix’s The Ultimatum: Queer Love has had to deal with the “wildest DMs” since she rose to fame this summer when she and her ex-partner Yoli Rojas signed up to work through their relationship issues on reality TV, both hoping the drama would lead to marriage. Now, Wright is fielding offers from couples to join their marriages. “I have husbands reaching out to me and sending me Cameo requests like, ‘My wife is in love with you. You don’t know this, but you’re basically our girlfriend in our relationship,’” she tells me over Zoom from Seattle, where she’s visiting for the first time since the show was shot in the city. “I saw one comment where this woman was like, ‘I will leave my husband and kids for you.’ And I’m like, No, we’re not doing that! A home wrecker is what I’m not.” Wright laughs as she recounts the “lawless” DMs she’s had to sift through, her signature dimple shining with every chuckle.
2023-08-01 21:01
Georgia Tech's Eubanks stuns Tsitsipas at Wimbledon to reach his first Grand Slam quarterfinal
Georgia Tech's Eubanks stuns Tsitsipas at Wimbledon to reach his first Grand Slam quarterfinal
Chris Eubanks has reached the quarterfinals at a Grand Slam tournament for the first time by stunning two-time major runner-up Stefanos Tsitsipas in five sets
2023-07-11 02:38
'I don't think it's the end': Adam Lambert on his future with Queen
'I don't think it's the end': Adam Lambert on his future with Queen
Adam Lambert believes he will be touring with Queen for years to come.
2023-05-30 20:00