Kieran Maguire issues £600m+ Man United reveal after official club statement
Man United should be “extremely cautious” when assessing their annual financial results for the anomalous 2020-21 season.
So says finance guru Kieran Maguire, speaking exclusively to Football Insider after United’s UK accounts were released last Friday (14 January).
The figures showed an £11.66million loss, with turnover tumbling to £494m for the year ending June 2021.
In notes accompanying the report, United chalked up large chunks of the deficit to the absence of matchday income during the Covid-hit campaign.
A United spokesperson told this site yesterday (20 January) that they are “proud of the strength and resilience” they had shown over the pandemic.
Maguire predicted a return to profit for the Red Devils next year but also emphasised that fluctuations in broadcast income would affect the results.
“I would personally expect to see a profit next time around,” he told Football Insider‘s Adam Williams.
“But you have to be extremely cautious because of the nature of the season we had.
“I would expect commercial and matchday revenue to go up, but broadcast revenue is likely to fall.
“There is a good chance they could go back to £600m in terms of revenue, and that will be driven by matchday and commercial.
“They took a hit in the commercial arrangements because they effectively gave front-of-shirt sponsor Chevrolet an additional six-month benefit.”
United’s commercial revenue for the financial year totalled £232m.
They have 23 global partners and recently signed a renewal with personal care brand Remington.
In other news, Man United respond after Newcastle United submit formal £5m-plus Jesse Lingard bid.