- Wage bill up 13.6% to £322.6m but net debt falls to £419.5m
- Woodward says Covid led to one of club’s hardest 12 months ever
Manchester United suffered a net loss of £92.2m in the 12 months ending 30 June 2021, an increase of nearly £60m on the previous financial year, and the executive vice-chairman, Ed Woodward, said the pandemic had made the period among the “most challenging” in the club’s history.
The scale of the loss is understood to be largely down to a £66.6m non-cash tax charge, caused by an increase in the UK corporate tax rate, in relation to the US rate. In the year ending June 2020 United’s net loss was £23.2m. The net debt decreased from £471.1m to £419.5m in the most recent financial year and an operating loss of £36.9m was recorded.
