Football Business : Manchester United revenues dip by 19.5% for the Q1

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.

“While the Covid-19 pandemic continues to cause significant disruption, we are optimistic that the recovery and normalisation phase is gradually coming into view,” said Ed Woodward, United’s executive vice chairman. “The club’s resilience and our strong commercial business continue to provide a solid foundation and gives us confidence in our long-term outlook beyond the pandemic, both on and off the pitch.”

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 Latest Points Table 
 
On field also, Manchester United hasn’t have best of the start in the Premier League season this year. In the first 7 games Man United has only registered 3 victories and is currently on 14th position with 10 points. Leicester City leads the Premier League points table with 18 points from 8 matches.

Premier League table 2020/21

Pos Team P W D L GD Pts
1 Leicester City 8 6 0 2 9 18
2 Tottenham 8 5 2 1 10 17
3 Liverpool 8 5 2 1 2 17
4 Southampton 8 5 1 2 4 16
5 Chelsea 8 4 3 1 10 15
6 Aston Villa 7 5 0 2 9 15
7 Everton 8 4 1 3 2 13
8 Crystal Palace 8 4 1 3 0 13
9 Wolves 8 4 1 3 -1 13
10 Man City 7 3 3 1 1 12
11 Arsenal 8 4 0 4 12
12 West Ham 8 3 2 3 4 11
13 Newcastle 8 3 2 3 -3 11
14 Man United 7 3 1 3 -2 10
15 Leeds 8 3 1 4 -3 10
16 Brighton 8 1 3 4 -3 6
17 Fulham 8 1 1 6 -8 4
18 West Brom 8 0 3 5 -11 3
19 Burnley 7 0 2 5 -9 2
20 Sheffield Utd 8 0 1 7 -10 1