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Man United set the Premier League RECORD with a £384.2m wage bill – with Cristiano Ronaldo’s monster pay package a major contributor – as they crushed local rivals Man City, whose wages reached £354.6m last year
- Cristiano Ronaldo returned to Manchester United for a second term last season
- Portuguese maestro earns a massive £480,000 a week, the highest in the Premier League
- The record surpasses the previous record of local rivals Manchester City
- United have published financial data in which they have lost £2million a week
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Manchester United have set a new record in the Premier League on the payroll after last season’s financial results.
United’s annual bill rose to £384.2 million with the dazzling figures related to the huge pay package for star player Cristiano Ronaldo after returning to the club a year ago.
Ronaldo earns an incredible £480,000 a week, making him the highest paid Premier League player at almost £100,000 at the time of his return.
The rise in wages takes them past local rivals Manchester City, who previously paid out £354.6 million in last year’s figures.
United’s summer business saw them sign Ronaldo for around £13.5 million from Juventus, and it came after high-profile moves for fellow stars including Jadon Sancho and Raphael Varane.
Their transfers from Borussia Dortmund and Real Madrid cost £77million and £36million respectively – and both earn an estimated £350,000 a week – with only Ronaldo and goalkeeper David de Gea earning more.
However, the news comes after news that losses of more than £2million per week have been reported last season, although matchday income is said to have increased following the return of supporters to the stadium after Covid.
The Old Trafford club reported a net loss of £115.5 million for the season and an operating loss of £87.4 million for the year to 30 June. Most of these losses are the result of rising wages paid.
Fans will also be outraged to learn that net debt has risen again to over £514.9 million (up from £95.4 million), which does little to alleviate the growing resentment of the club’s American owners, the family. Glazer, reduce.
Cristiano Ronaldo’s skyrocketing wages have set Manchester United a new record in the Premier League for their salary bill
It comes after the club reported operating losses among US owners, the Glazer family
United reduced that increase from £95.4 million primarily to £64.6 million in unrealized foreign exchange losses on the translation of loans into US dollars.
Turnover rose by £89.1 million or 18 percent to £583 million.
United’s latest financial figures showed a sharp 19.1 percent increase in wages from £61.6 million to £384.2 million.
United also signed Jadon Sancho last summer, in the photo he signed his contract with former Red Devils coach Ole Gunnar Solskjaer
French World Cup winner Raphael Varane also received much acclaim from Real Madrid
“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 squad,” 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.”