Kieran Maguire makes £68m Man United claim that is hidden in the latest accounts
Man United should not be concerned with their seemingly mammoth £92million annual loss as there are plenty of mitigating circumstances.
That is the view of finance guru Kieran Maguire, speaking exclusively to Football Insider about United’s recently released financial report.
On 20 September, the Red Devils posted a £92m loss for the year ending June 2021.
That figure was heavily affected by the near-total absence of matchday income and a decline in sponsorship revenue.
Total turnover fell by just three per cent, however, as broadcast income and Champions League participation softened the blow.
And Maguire argues that United have navigated the pandemic successfully.
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“I think they have done very well,” he told Football Insider correspondent Adam Williams.
“The £92m net loss is mainly due to technical tax reasons, so I think we can disregard that.
“The loss before tax was £24m compared to £22m last season. Bearing in mind that we have had a full year of Covid, that’s quite impressive.
“There has to be an awful lot of caution in terms of trying to benchmark these figures.
“The accounting period includes 44 matches in the Premier League compared to 32 the previous season.
“That explains why broadcast income went from £140m to £255m. So there were distortions.”
United are expected to have returned to pre-tax profit by the time their next annual report is published.
That is despite the club having splashed out over £125m on transfers, as well as Cristiano Ronaldo’s enormous wages.