Manchester United 23-24 season financial report: revenue of 660 million pounds hit a record, net loss reached 113.2 million pounds

On September 11, Beijing time, Manchester United released the club's financial report for the 23-24 fiscal year, in which their revenue reached a record high of 661.8 million pounds, but they still suffered huge losses, with a net loss of 113.2 million pounds.

It is reported that Manchester United's revenue in the 2023-2024 fiscal year reached a record high of 661.8 million pounds, which is mainly attributed to the increase in broadcasting revenue and match day revenue after the club qualified for the Champions League in the 2023-24 season.

Manchester United lost 28.7 million pounds in the 2022-2023 fiscal year. The sharp increase in losses was partly attributed to investments in transfer fees and wages. Wage expenses increased by 33.3 million pounds because the team qualified for the Champions League and participated in the 2022-23 Europa League.

In addition, the club's full-year interest costs reached £61.8 million in the 2023-24 fiscal year, while the club also spent £47.8 million on the costs of selling a 27.7% stake to Ratcliffe, who has since appointed a new leadership team and launched a cost-cutting measure aimed at saving costs.

In addition, Manchester United's pre-tax loss was £130.7 million. A club's pre-tax profit or loss is the starting point of the Premier League's Profitability and Sustainability Rules (PSR).

Under the PSR, a club's losses must not exceed £105 million in three years, and Manchester United's total pre-tax losses in the past three-year PSR cycle were £312.9 million.

The PSR allows clubs to add back spending on youth training, women's football and community work, helping them keep losses within a maximum threshold of £105 million.

For last season, clubs can also add back COVID-19-related losses from the 2021-22 season - the first of three years to be assessed, with Manchester United saying they remain committed to and complying with Premier League and UEFA spending rules.