Exclusive: Man United release statement after £76m Man City news
Man United are “proud of the strength and resilience” of their business operation throughout the pandemic despite falling behind rivals Man City, Football Insider can exclusively reveal.
The Red Devils posted revenues of £494million for the year ending June 2021, while City turned over £569.8m in the same period, as per their accounts published last Wednesday (13 January).
A Man United spokesperson has told Football Insider that the club remains an “industry leading” commercial force and has navigated the economic fallout of the pandemic well.
The 2020-21 season was the first time in history that United have been knocked off their perch as the top earners across a Premier League season.
City were crowned league champions for the third time in four seasons in 2020-21, with United finishing a distant 2nd place.
The Cityzens also cashed in from prize money and broadcasting as they reached the final of the Champions League for the very first time.
Richard Arnold is set to take over as the new CEO at Old Trafford on 1 February, with Ed Woodward stepping aside after nearly nine years at the helm.
Finance expert Doctor Dan Plumley told this site yesterday (19 January) that top of the agenda for Arnold is to address the £75.8m revenue gap between themselves and Man City.
In response to Plumley’s analysis, a United spokesperson told Football Insider: “We are proud of the strength and resilience which our club has shown through the pandemic, despite the significant loss of revenues from normal levels while matches were being played behind closed doors.
“Our commercial business remains industry-leading, as demonstrated by the series of new globally-recognised third party partnerships and renewals announced over the past year.”
United trousered £232.2m in commercial income over the last recorded financial year and have 23 global partners.
They recently signed a renewal with personal care brand Remington, and their TeamViewer, Adidas and Cadbury are among their other commercial allies.
In other news, pundit tips Paul Pogba to dazzle for a long time at Man United after “internal” talks.