Manchester United has revealed a severe financial crisis, reporting losses exceeding £312.9 million over three years. In a letter to fans addressing rising ticket prices, the club acknowledged that its current financial practices are unsustainable and risk breaching the Premier League's Profit and Sustainability Rules. Significant losses hindered any potential signings for head coach Ruben Amorim and have led to drastic cost-cutting measures, including staff redundancies. The club indicated a willingness to negotiate player sales, reflecting its precarious financial state and the urgency of rectifying it to ensure future competition on the field.
"We are currently making a significant loss each year totalling over £300 million in the past three years. This is not sustainable and if we do not act now we are in danger of failing to comply with PSR/FFP requirements in future years and significantly impacting our ability to compete on the pitch."
"We will get back to a cash positive position as soon as possible and we will have to make some difficult choices to get there."
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