Manchester United’s wage bill soars AGAIN to £384m despite their Champions League failure… but latest financial figures show Glazers haven’t taken a dividend as Sir Jim Ratcliffe pays in £156m
- United have the largest wage bill in the Premier League – and it has risen again
- Personnel costs also increased as a result of the return to the Champions League
- CHRIS SUTTON: Harry Kane is a serial DIVER, he’s the worst I’ve ever seen – Listen to the It’s all Kicking Off podcast
Manchester United’s wage bill – the highest in the Premier League last year – has risen again.
The club’s latest financial figures show that they remain on course to break annual turnover records, but also that staff costs have increased, largely thanks to the club’s participation in the Champions League.
No dividends have been paid to the majority shareholders of the Glazer family, with Mail Sport understanding that such transactions are unlikely to occur in the future.
United’s wage bill totaled £384.1 million last season. In the last reporting period, staff costs increased by £95.1 million, mainly due to the club being part of the UEFA top competition and not the Europa League.
Last year, United reported a club record turnover of £648.4 million, but still made a loss of £42.1 million. They predict this figure will be broken again, with expectations between £635 million and £665 million.
Manchester United’s wage bill – the Premier League’s biggest – rose again to £384m
Jim Ratcliffe paid £1.3 billion for a 27.7 percent stake in United and control of the football side
United crashed out of the Champions League – and Europe as a whole – after the group stages
The Glazers, who are still United’s majority shareholders, have not taken a dividend from the club
The figures also show that £156m was poured into the club’s coffers following the completion of Sir Jim Ratcliffe and his INEOS group’s 25 per cent stake in Old Trafford.
Cliff Baty, United’s Chief Financial Officer, said: “We delivered strong revenues during the first half of the fiscal year and have reiterated our expectations for record revenues for the full fiscal year.
“This is an exciting time at Manchester United following the completion of Sir Jim Ratcliffe’s investment, and we are all focused on working with our new co-owners to drive the club forward and achieve success on the pitch.”
Commercial income fell by £6.9m, while sponsorship income also fell by 22 per cent. Retail sales grew 15.2 percent thanks to the extension of United’s deal with Adidas and the performance of the megastore.
Approximately £9.6 million in transaction costs were paid in connection with the INEOS investment. United’s historic debt, related to the leveraged buyout of the Glazers, remains at £508.1 million.
Net debt, including a revolving credit facility, was £710 million.
