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Manchester United record losses of over £21m for first three months of year

Man United record losses of over £21m for first three months of year
© Reuters
The absence of fans due to the coronavirus pandemic hit United's financially.

Manchester United recorded a £21.6million loss in the first three months of the year as the coronavirus pandemic kept fans out.

The Old Trafford giants finished second in the Premier League in 2020-21 and lost the Europa League final to Villarreal on penalties.

United's revenue for the third quarter of the year up until March 31 was £118.3m, representing a 4.4 per cent drop compared to the same period of 2020.

Matches at Old Trafford have largely been played behind closed doors since the coronavirus pandemic started
Matches at Old Trafford have largely been played behind closed doors since the coronavirus pandemic started (Clive Brunskill/PA)

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 but executive vice-chairman Ed Woodward, who will leave his position by the end of the year, was confident about the future.

"The absence of fans over the past year has proved that they are the lifeblood of the game," he said in a statement.

"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."

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Olympic medal table header
CountryGold medalSilver MedalBronze MedalT
United StatesUnited States22251764
Olympics flagOlympic Athletes from Russia12211750
Great BritainGreat Britain11121235
Today's Olympic highlights header

Tuesday's key events

· Team GB duo Jack Laugher - silver medallist in Rio - and James Heatly take part in the men's 3m springboard semi-final (2am), and will hope to qualify for the final later in the day (7am)

· Two Britons are involved in the women's long jump final, but Abigail Irozuru and Jazmin Sawyers have their work cut out to get a spot on the podium (2.50am)
· Norwegian Karsten Warholm, who broke the world record just last month, goes for gold in the men's 400m hurdles final. USA's Rai Benjamin is expected to be his main challenger (4.20am)
· Great Britain have three representatives in the final of the women's 800m, with Jemma Reekie having perhaps the best chance of a medal (1.25pm)
· A mouth-watering women's 200m final sees Elaine Thompson-Herah go for the prestigious sprint double after claiming the 100m crown. Compatriot Shelly-Ann Fraser-Pryce, Namibia's Christine Mboma and USA's Gabrielle Thomas are expected to be her main competitors (1.50pm)

· The rescheduled women's skiff 49er FX (4.33am) and men's skiff 49er (5.33am) come to their conclusion, with Team GB involved in both medal races
· Defending champion Giles Scott bids for a second successive gold in the Finn class medal race (6.33am)
· There is another medal chance for Team GB in the mixed Nacra 17 medal race (7.33am)

· Team GB's Joe Fraser takes part in the parallel bars final, kicking off the final day of artistic gymnastics (9am)
· USA superstar Simone Biles, who has been forced to pull out of all of her finals so far, is on the starting list for the beam final as she bids for a fifth Olympic gold (9.50am)

· The men's semi-finals take place, with Mexico taking on Brazil first up (9am)
· The winner of that first semi-final will face either hosts Japan or Spain (2pm)

· Laura Kenny will look to win a third straight Olympic team pursuit gold medal. Team GB take on United States in their heat (7.44am), with the gold medal race later that day (9.26am)
· Laura's husband and fellow Olympic legend Jason Kenny will also look to continue his huge success in the men's team sprint - an event he has won gold in at every Games since 2008. Team GB will first need to get through the men's qualifying (7.58am), with the gold medal race ending the session (9.44am)

· Pat McCormack will be looking to achieve his dream of Olympic gold when he faces Cuba's Roniel Iglesias (11.05am)

> Today's schedule in full
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