Manchester United has announced a reduced pre-tax loss of £5.6 million for the 2023-24 season so far, down from a £32.8 million loss reported in the first quarter. Despite the team's performance struggles, the club's wage bill has risen to a record £384 million annually, equating to more than £7 million per week, an increase of nearly £100 million. Yet, the club is still on track to break revenue records. Furthermore, Manchester United's profit has seen a rise, with the club looking towards Sir Jim Ratcliffe for further on-pitch success. A recent SEC filing revealed that £120 million has been paid off the club's revolving credit facility following a $300 million cash injection from Ratcliffe. The filing also detailed a £5.5 million payout to Richard Arnold after his resignation as CEO in December. However, the club faces the challenge of potentially borrowing more money for the rebuilding of Old Trafford.
Manchester United have paid off £120m of debt, it was revealed overnight. But rebuilding Old Trafford will likely require them to borrow more money. Is that actually a bad thing? w/ @Dan_Sheldon_ https://t.co/6LbHZZIbl9
We've been treated to some Premier League classics so far this season 🤩 Which one gets your vote? 🗳️ https://t.co/gxr9kTgDnH
#MUFC’s latest SEC filing reveals £120m has been paid off their revolving credit facility following Sir Jim Ratcliffe’s $300m cash injection. It also details a £5.5m payout to Richard Arnold after he stepped down as CEO IN December. Story @TheAthleticFC: https://t.co/AvMTP1xewP
🔎 A deep dive look into Man Utd's bloated wage bill #manutd | #premierleague https://t.co/5iTFRz72v3
💰 Man Utd flops 🔥 Man City's key men 👊 Liverpool's best player 💵 We count down the top 10 highest earners currently in the Premier League #premierleague https://t.co/FwDgnjzKGl
Man Utd profit rises as club looks to Ratcliffe for on-pitch success https://t.co/AawQcxaZQm https://t.co/phBjoMJnNW
🤑 Man Utd's wage bill has increased by almost £100m - but club still on course to break revenue records https://t.co/1Mwp6zgpI5 https://t.co/tg6kl0b68E
Who was your 🔝 player in February, in the @premierleague? 🥇 https://t.co/xZqsZ7HRA2
Man Utd’s record wage bill rises even higher to £384million a year – more than £7m per week – despite team’s struggles https://t.co/c8sxQWDUQH https://t.co/c8sxQWDUQH
Manchester United announce reduced £5.6m pre-tax loss for the 2023-24 season so far, down from a £32.8m loss in first quarter. That's only good news for their FFP/PSR compliance. https://t.co/fzlp0FuGdG