the five most mental takeaways of damning numbers

Spread the love

The Glazers proved there is plenty of reward for abject failures and made record dividends despite Manchester United losing more than £2million a week.

Here are the five main points from the Red Devils’ latest financial report, on a miserable last year…

1) United lost over £2million a week
The Red Devils announced a net loss of £115.5 million for the 2021-2022 season. That’s despite an 18 percent increase in sales to £583 million.

Even with fans allowed back into stadiums and Old Trafford packed for most of last season, losses rose by £23million from the previous year.

That means United lost around £2.2 million a week over the course of 2021/22. Coincidentally nearby the same amount Cristiano Ronaldo could pay by moving to Saudi Arabia.

2) Their wage bill is the highest in the Premier League
United paid their bloated, under-performing team a total of £384.2 million last year. Although some clubs have not yet released their figures, this means that the Red Devils have the highest wage bill in the league.

It shows an increase of 19.1 per cent on the previous year, an increase of £61.6 million, more than the previous £355 million set by Manchester City. They get a sh*te-sight more for their money.

Had they been good, the wage bill would have been even higher, as many United players have contracts that are heavily incentivized.

3) United paid nearly £25m to sack managers
Payouts to manager Ole Gunnar Solskjaer, sacked in November, and Ralf Rangnick, who did not take on a two-year consultancy role at the end of the season after initially taking on an interim contract, and their associated coaching staff totaled £24.7 million.

That total is higher than the £19.6 million paid by Jose Mourinho and his staff at the end of 2018.

Since the retirement of Sir Alex Ferguson, United have paid a total of £57.9million to managers to do their job. David Moyes and his men bagged £5.2 million, while Louis van Gaal’s crew received £8.4 million.

As a reminder, United gave Solskjaer a new three-year deal four months before they got rid of them.

4) The club’s net debt increased by £94.5m
United’s net debt rose from £419.5m in 2021 to £514.9m this year, an increase of more than 22 per cent.

The club mainly reduced that increase to £64.6 million in unrealized exchange losses on the translation of loans into US dollars.

“Our fiscal 2022 financial results reflect a recovery from the pandemic, a full return of fans and new commercial partnerships, offset by increased investment in the playing team,” said CFO Cliff Baty.

“Our results were negatively impacted by the lack of a summer tour in July 2021, material exceptional and higher energy costs and the impact of the weakening sterling on our non-cash financing costs.”

Being sh*t didn’t help either.

5) Glazers Pants Paid Record Dividends
United posted a net loss and the club’s debt rose by almost a quarter, but proof that there can be a reward for abject failure, the Glazers still pocket huge dividends of £33.6million.

Gary Neville was smoking when the Glazers paid themselves £11 million in June. They could point to the fact that this amount includes a portion that has been deferred during Covid.

Or they keep quiet because they don’t give a damn what Neville or anyone else says about their stewardship of the club.

.