Man United only suffer a FOUR PER CENT drop in overall revenue for the first three months of 2021 despite the Covid pandemic keeping fans out of Old Trafford
* Man United made £118.3m compared to £123.7m for the same period last year
* Matchday revenue fell from £29.1m to £1.6m with games behind closed doors
* The Premier League club reported a £32.6m increase in broadcasting revenue
Manchester United's overall revenue only dropped by four per cent despite the ongoing effects of the pandemic, according to the club’s third quarter financial results released on Thursday night.
Figures for January to March show that United made £118.3million compared to £123.7m for the same period last year.
Matchday, commercial and sponsorship revenue were all down by £27.5m, £10.5m and £8.9m respectively, but that was partly offset by a £32.6m increase in broadcasting revenue.
Manchester United are still counting the cost of the ongoing effects of the pandemic. Manchester United’s executive vice-chairman Ed Woodward remains optimistic about the prospect of fans returning to Old Trafford
United’s executive vice-chairman Ed Woodward said: ‘The absence of fans over the past year has proved that they are the lifeblood of the game.
‘Following the successful return of limited numbers at the end of last season, and continued trials of increased crowds at sports events this summer, we remain optimistic about the prospect of fans returning to Old Trafford in larger numbers going forwards.
‘With the foundations for long-term success in place, including significant initiatives to strengthen engagement with our supporters, we look forward to the upcoming season.’
The Old Trafford giants finished second in the Premier League in 2020-21 and lost the Europa League final to Villarreal on penalties.
Matchday revenue fell from £29.1m to £1.6m compared to the previous equivalent quarter, with matches being held behind closed doors playing a part in the operating loss of £21.6m for the period.
The financial results also showed a £10.7m dividend payment to shareholders – payments United co-chairman Joel Glazer defended at a recent fans’ forum.
Financial results showed net debt stood at £443.5m.
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