Football Business : Premier League club Manchester United like any other football club worldwide in facing the pinch of Covid-19 pandemic. The latest financial report of the club has revealed 19.5% dip in revenues and operating loss of US$35.3 million for the first quarter of fiscal 2021.
Total revenue of the Premier League side stood at US$142.2 million, a drop of 19.5 per cent compared to the same period last year, when the Premier League side made an US$14.3 million profit. Unsurprisingly, with fans still unable to attend games due to the health crisis, match-day revenue fell dramatically from US$28.8 million to US$2.2 million, a dip of 92.3 per cent.
United’s commercial revenue was also down, falling from US$104.9 million to US$77.9 million. Broadcast revenue reached US$62.1 million, an increase of 44.7 per cent, as a result of the 2019/29 Premier League season being completed in July.
Alongside rivals Liverpool, United were recently revealed to be at the heart of the controversial Project Big Picture plans, which included a major restructure of English soccer and would have seen greater power handed to the Premier League’s so-called ‘big six’ clubs.
However, Woodward made no mention of the proposal in United’s financial statement, instead stating that the club recognise not all teams “are in as robust a financial position”, while also saying that the Premier League “has a responsibility” to support the wider English soccer pyramid.
He added: “We will continue to push for this support, both through emergency assistance during the pandemic, and through longer-term reforms to ensure that the success of the Premier League is reinforced for the benefit of the national game as a whole.”
Premier League table 2020/21