MX23RW : Tuesday, October 15 08:46:11| >> :60:715:715:

Man United chief releases statement as club reveal full-year financial results

£113m loss: Man United CEO addresses club's latest financial results
© Imago
Manchester United CEO Omar Berrada sets out the vision for the new management team at Old Trafford following the release of the latest financial results.

Manchester United CEO Omar Berrada has set out the vision for the new management team at Old Trafford following the release of the club's full-year financial results.

The club's latest accounts have shown a net loss of £113.2m in the year to June 30, and they have now taken total losses of over £370m in the last five years.

"It has been a busy off season for the club with successful training camps for both our men's and women's teams," Berrada said in a statement.

""We have strengthened our men's first team with five exciting players and put a new football leadership structure in place to provide a greater support to our manager, Erik ten Hag.

"Dan Ashworth was appointed sporting director and Jason Wilcox joined us as technical director, two extremely experienced and highly regarded professionals, who will add great depth to our team.

Manchester United's sporting director Dan Ashworth on July 1, 2024© Imago

Man United report net loss of £113.2m

"We have added six players to our women's team and are investing to ensure all of our teams have access to world-class training facilities at a fully renovated Carrington.

"We are also delighted to have extended our principal partnership with Snapdragon, after an excellent start, for a further two years, in addition to the initial three-year term.

"As I embark on my new role as chief executive officer of this historic club, we are all extremely focused on working collectively to create a bright future, with football success at the heart of it.

"We are working towards greater financial sustainability and making changes to our operations to make them more efficient, to ensure we are directing our resources to enhancing on-pitch performance.

"Today, we announce new guidance for fiscal 2025, which reflects a partial year impact of the transformative cost-savings and organisational changes that we have been busy implementing over the summer.

Manchester United manager Erik ten Hag on August 24, 2024© Imago

Man United chief says club want "to return to the top of European football"

"Ultimately, the strength of Manchester United is driven by the passion and loyalty of our supporters. Our clear objective is to return the club to the top of European football.

"Everyone at the club is aligned on a clear strategy to deliver sustained success, both on and off the pitch, for the ultimate benefit of our fans, shareholders and hugely diverse range of stakeholders."

According to BBC Sport, Man United will not breach the Premier League's rules surrounding Profit and Sustainability despite the recent loss.

The Red Devils finished eighth in the Premier League last season, but they managed to qualify for the 2024-25 Europa League courtesy of their win against Manchester City in the FA Cup final.

The 20-time English champions have lost two of their three Premier League matches at the start of the new season, including a 3-0 defeat to Liverpool at Old Trafford before the international break.

The club spent in excess of £180m over the summer transfer window to sign Joshua Zirkzee, Leny Yoro, Matthijs de Ligt, Noussair Mazraoui and Manuel Ugarte.

ID:552632:1false2false3false:QQ:: from db desktop :LenBod:collect4998:

Click here for more stories about Omar Berrada

Click here for more stories about Manchester United

Collect / Create New Data
Share this article now:
 Manchester United Racing to Offload Winger Before Deadline on August 20, 2024
Read Next:
Man United 'planning' ambitious quadruple transfer swoop in 2025
>
Sports Mole Logo
Enter your email address to subscribe to Sports Mole's free match previews newsletter! Updates are sent twice a week.
rhs 2.0
Today's games header
FT
Bills
23-20
Jets
Tables header RHS
TeamPWDLFAGDPTS
1Liverpool76011321118
2Manchester CityMan City7520178917
3Arsenal7520156917
4Chelsea7421168814
5Aston Villa7421129314
6Brighton & Hove AlbionBrighton73311310312
7Newcastle UnitedNewcastle733187112
8Fulham7322108211
9Tottenham HotspurSpurs7313148610
10Nottingham ForestNott'm Forest724176110
11Brentford73131313010
12West Ham UnitedWest Ham72231011-18
13Bournemouth7223810-28
14Manchester UnitedMan Utd722358-38
15Leicester CityLeicester7133912-36
16Everton7124715-85
17Ipswich TownIpswich7043614-84
18Crystal Palace7034510-53
19Southampton7016415-111
20Wolverhampton WanderersWolves7016921-121


Sports Mole provides in-depth previews and predictions for every match from the biggest leagues and competitions in world football.
Argentina's Lionel Messi kisses the World Cup trophy after collecting the Golden Ball award on December 18, 2022Sign up for our FREE daily preview newsletter direct to your inbox!