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
US economic growth accelerates in third quarter
By Lucia Mutikani WASHINGTON (Reuters) -The U.S. economy grew at its fastest pace in nearly two years in the third
1970-01-01 08:00
Rugby World Cup finalists Etzebeth and Savea also in contest for player of the year
Rugby World Cup finalists Eben Etzebeth of South Africa and Ardie Savea of New Zealand are among the four nominees to win the men’s world player of the year award
1970-01-01 08:00
Andrew Tate receives backlash for controversial tweet on transwomen, Internet calls for 'gender equality'
Andrew Tate brought up a hypothetical World War 3 draft in an offensive tweet about transwomen and equality
1970-01-01 08:00
Newcastle fans react to Sandro Tonali gambling ban: 'Hopefully he gets support'
Newcastle United fans have been reacting to the news that star player Sandro Tonalihas been banned for 10 months for gambling. The offences happened while he was playing at AC Milan, his former club, according to Gabriele Gravina, the president of the Italian football federation (FIGC). Gravina said Tonali would have to go through an eight-month rehabilitation period as part of the agreement. Tonali’s agent has said the player has a gambling addiction and that he cooperated fully with Italian authorities. The 23-year-old admitted he placed bets on matches, including some he played in for AC Milan. He signed for Newcastle for £55m over the summer. Professional footballers in Italy are banned from betting on games organised by Fifa, Uefa or the FIGC. The default ban is three years long, though issuing a guilty plea and cooperating with authorities can see that shortened. Newcastle fans, having already heard the news of a potential ban earlier this month, were determined to stay positive. One person said: “The burden of hiding his gambling is now off his shoulders… He’ll get the right help for his addiction… He will only be 24 when he returns to a full playing career.” Another person said: “Could have been much worse. He will get treatment in Italy, do community work in Italy and gets to train and play friendlies with us. “This way he hopefully gets support, treatment and stays integrated within the team until he is back properly.” One other person added: “Would be nice to see Tonali release something with club giving his side. Thanking fans for support and be back stronger etc for his nufc career.” Newcastle’s manager, Eddie Howe, said last Friday: “We will throw our arms around Sandro and protect him and try to give him the love and support he needs to find solutions to the problems he’s had. “We see him being part of our team for many years. We are committed to him long term.” Charities such as GambleAware and GamCare provide support for people struggling with gambling addictions. How to join the indy100's free WhatsApp channel Sign up to our free Indy100 weekly newsletter Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.
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
Palestinian foreign minister promises cooperation with international courts on visit to The Hague
The Palestinian Authority’s foreign minister says he fully supports an International Criminal Court investigation into alleged crimes in the Palestinian territories and by Palestinians who target Israelis
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
Factbox-Maine town of Lewiston the scene of latest in a series of US mass shootings
A gunman on Wednesday left multiple casualties after opening fire at a bar and a bowling alley in
1970-01-01 08:00
Potential industry slowdown in toy sales weighs on shares of Hasbro and Mattel
Hasbro’s third-quarter revenue performance missed Wall Street’s expectations and the company cut its full-year revenue outlook again as signs of a possible industry slowdown in toy sales heading into the holiday season weighs on jittery investors
1970-01-01 08:00
Paige Spiranac sets Instagram on fire with selfies in gray crop top, Internet says 'you deserve criticism'
The golf influencer posted four selfies wearing a short T-shirt with a front knot-style wrap and a deep V-neck
1970-01-01 08:00
