blues-clues wrote:Manchester United have announced a net loss of £115.5m for the 2021-22 season even though revenues rose by 18% to £583.2m.
Figures released incorporating the end of their financial year in June showed losses rose by £23.3m compared to 2021.
The club's debt also went up, from £419.5m in 2021 to £514.9m this year - an increase of more than 22%.
"Our club's mission is to win football matches and entertain our fans," chief executive Richard Arnold said.
As a result of the signings last summer of the likes of Cristiano Ronaldo, Jadon Sancho and Raphael Varane wages rose by 19.1%, a rise of £61.6m to £384.2m.
That figure is the highest in Premier League history, surpassing the previous total of £355m set by Manchester City who have actually won a few trophies and have a squad that is worth more than 87pence.
Interesting that such abysmal results haven't brought any condemnation from either Sky or the BBC
Imagine if we make a loss like that?
We would never hear the end of it. We are still talked about as big spenders despite having better net spends than most if not all the top 6-7 clubs over the last 5 or so years