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
1970-01-01 08:00
How Are Porta Potties Cleaned?
To keep porta potties (relatively) clean, sanitation workers require special equipment and a strong stomach.
1970-01-01 08:00
Ford shares rise a day after tentative deal with UAW
Ford shares rose 3% before the bell on Thursday as the company's unionized workers were set to return
1970-01-01 08:00
The Chicago Bulls Had a Players-Only Meeting After Opening Night Blowout
Blowout loss to Oklahoma City Thunder leads to historic players-only meeting in Bulls locker room.
1970-01-01 08:00
Ford workers to return to work as UAW turns to GM, Stellantis
By David Shepardson and Joseph White Ford autoworkers were set to head back to work after the United
1970-01-01 08:00
ECB holds rates, signals steady hand as economy stumbles
By Lefteris Papadimas ATHENS (Reuters) -The European Central Bank left interest rates unchanged as expected on Thursday, snapping an unprecedented
1970-01-01 08:00
Assessing Israel's overnight raid of the Gaza Strip
Israel's manoeuvre has been described as "a tactical operation", meaning it was limited in scope.
1970-01-01 08:00
ECB pauses record streak of rate hikes
LONDON The European Central Bank broke the longest streak of interest rate rises in its 25-year history on
1970-01-01 08:00
Sandro Tonali’s reported ban brings calls for ’empathy and support’ from charity
Asking a footballer who is addicted to gambling to play in stadiums plastered in betting logos is akin to making an alcoholic work in a pub, campaigners have said. The Big Step campaign, part of the Gambling With Lives charity, has said Newcastle midfielder Sandro Tonali deserves “empathy and support” for his gambling rather than a 10-month ban. Italian football federation (FIGC) president Gabriele Gravina said on Thursday the 23-year-old had been suspended for 10 months and ordered to undertake a further eight-month rehabilitation programme, according to reports in Italy. The player’s agent, Giuseppe Riso, has said his client is living with a gambling addiction. The PFA is understood to be working with and continuing to support Tonali. “Footballers are human and if they are suffering from addiction they deserve empathy and support, not lengthy bans,” the Big Step said in a statement issued to the PA news agency. “Every football game is wall-to-wall with gambling ads, not just across shirts but around stadiums and related media content. “Sending someone addicted to gambling into this environment is like sending an alcoholic to work in a pub. If you force young footballers to endorse addictive products then don’t be surprised if they use them. “Ending all gambling advertising and sponsorship in football, including all parts of the shirt and in every stadium, will help to prevent harm to those on and off the pitch.” Gravina told reporters: “An agreement has been reached between the federal prosecutor and Sandro Tonali. “The plea agreement is for 18 months, of which eight months is for rehabilitation, which involves therapeutic activity and making at least 16 public appearances. “The rules call for a certain number of years of suspension, but the plea bargain and extenuating circumstances have been taken into consideration and the players’ collaboration went above and beyond, therefore we must continue to respect the rules we have established for ourselves.” Tonali was one of several players named in the FIGC’s investigation, which also saw Juventus midfielder Nicolo Fagioli banned for seven months. Read More It doesn’t add up – North Wales Crusaders chief on IMG’s new grading system England ‘at end of cycle’ in ODIs – Michael Atherton England bowled out for just 156 in must-win World Cup clash with Sri Lanka
1970-01-01 08:00
Ranking the 8 best players who didn't sign rookie extensions
Only 14 of the 27 eligible players signed rookie scale extensions. Of the 13 that didn’t, these are the eight best, all of whom will now be restricted free agents this summer.
1970-01-01 08:00
KFC shuts Lesotho stores over South Africa bird flu
Lesotho has banned poultry imports from South Africa, leaving the fast food chain short of chicken.
1970-01-01 08:00
Barcelona vs. Real Madrid live stream, schedule preview: Watch LaLiga online
Both Barcelona and Real Madrid were victorious in the Champions League this week and they face eachother in La Liga on Saturday.
1970-01-01 08:00
