Manchester United made a profit of £63.9million in the last three months despite losing £110m from the absence of fans this season.
That is according to finance guru and new Football Insider columnist Kieran Maguire, speaking exclusively after the publicly listed club’s quarterly results were published on Thursday evening.
Prior to the release of the results, Manchester United Plc’s stock shot up by 6.9 per cent to its highest level since February 2020.
Investors were said to be confident of a degree of normality resuming next season, with packed-out stadiums driving additional profits for United.
Overall turnover rose by 2.6 per cent since United posted their last quarterly results in November 2020.
In an accompanying statement, chief executive Ed Woodward said the club had displayed “tremendous resilience” amid the ongoing pandemic.
Maguire explained that the long-heralded return of fans and UEFA’s plot to launch a revamped Champions League were behind financiers’ optimism in the club.
Nevertheless, he pointed out the £100m+ cost of no fans this season.
He told Football Insider correspondent Adam Williams: “Manchester United’s quarterly reports came out yesterday and the market predicted they would not be as bad as initially feared.
“The share price is based on future expectations so with the progress which is being made with regard to vaccinations and therefore hope of returning to full crowds, that could be worth £110m in a full season.
“The other thing the markets are taking into expectation is that it looks like we’re going to have some form of expanded European competition in 2024-25.
“For a club of the status and stature of Manchester United, this could prove very lucrative. That will be factored into the stock price.”
On the pitch, United are enjoying one of their more successful seasons in recent years.
They are 2nd in the Premier League and still going strong in both the FA Cup and Europa League.