"We are now seeing the positive financial impact of our off-pitch transformation materialise both in our costs and profitability. We continue to take a football first approach and invest in both our men's and women's first teams. On the pitch our men's team sits fourth in the Premier League and our women's team are second in the Women's Super League."
"Total operating expenses for the quarter ending Dec. 31 were down £22.5m ($30.4) to £173.9m ($235.1) -- a decrease of 11.5%. United also said employee benefit expenses for the quarter have fallen £7.4 million ($10m) to £75.1m ($101.6m) due to the impact of headcount reduction programs implemented during the prior year."
Manchester United has implemented extensive cost-cutting measures following Sir Jim Ratcliffe's minority stake purchase in February 2024, resulting in significant financial improvements. The club made over 250 redundancies and reduced wage bills, including first-team player salaries. Q2 financial results show an operating profit of £32.6m compared to a £3.9m loss in the same period last year. Total operating expenses decreased by £22.5m to £173.9m, an 11.5% reduction. Employee benefit expenses fell £7.4m to £75.1m due to headcount reductions. CEO Omar Berrada stated the off-pitch transformation is delivering positive financial impact while maintaining investment in men's and women's first teams. The club remains compliant with Premier League Profit and Sustainability Rules and UEFA Financial Fair Play Regulations.
Read at ESPN.com
Unable to calculate read time
Collection
[
|
...
]