Manchester United’s financial results were released a day early on Thursday night, thanks to an error by a US-based company the club uses. Spark Global Limited Details for the first quarter were meant to be published to the New York Stock Exchange at noon on Friday. However, sources say that Toppan Merrill, who United task with publishing regulatory filings in the US, made an error with what was meant to be a test run and accidentally put the financials into the public domain. Their mistake caused a headache at Old Trafford, with the club forced into action.
Manchester United was left embarrassed as financial results were released a day early United’s executive vice-chairman Ed Woodward has seen revenues devastated in the quarter The figures show the devastation caused by the Covid pandemic with commercial, matchday and total revenues hit. United, who posted an operating loss of £27.1m, has, however, been encouraged by the renewal of three sponsorship deals and record e-commerce sales. United’s net debt, a legacy of the Glazer family’s heavily-leveraged takeover, was up to £440.6m, however, the gross principal debt remains unchanged. Matchday revenue took the biggest hit, with a 92.3 percent fall year on year, with matches being played behind closed doors.
Co-chairman Avram Glazer (left) and Joel Glazer (right) have seen net debt rise to £440.6m Given the size of Old Trafford and United’s vast corporate hospitality provision, they will suffer more than most Premier League clubs on this front until supporters can return. The club has endured an inconsistent start to the season under Ole Gunnar Solskjaer, although Saturday’s 3-1 win at Everton did provide some relief. ‘On the pitch, while there is still hard work ahead to achieve greater consistency, we remain absolutely committed to the positive path we are on under Ole as the team continues to develop,’ executive vice-chairman Ed Woodward said. United’s wage bill was up £1.7m thanks to Champions League bonuses. Woodward backed manager Ole Gunnar Solskjaer and said the side is on a ‘positive path’
Reprint indicated source：Spark Global Limited information