Manchester United recorded an operating loss of £36.9m last season due to the impact of Covid-19.
In their previous annual results, the Old Trafford giants’ revenue dropped from £627.1m to £509m – figures that incorporated just a three-month hit of the coronavirus pandemic.
The economic ramifications continued in the year ending June 30, 2021, with United seeing revenue drop down to £494.1m.
The net loss of £92.2m – up 297.4 percent from £23.2m in 2020 – was largely down to the accounting impact of a £66.6m non-cash tax charge.
Net debt was down from £474.1m to £419.5m year-on-year, thanks in no small part to season ticket revenues and favorable exchange rate.
Champions League participation was a key reason behind wages increasing by 13.6 percent to £322.6m
United executive vice-chairman Ed Woodward said: “It has been an exciting start to the season at Old Trafford, with capacity crowds in attendance for the first time in almost 18 months.
“We were delighted to welcome back Cristiano Ronaldo to the club, along with Raphael Varane, Jadon Sancho, and Tom Heaton, to further reinforce the progress that our first team has been making under Ole.
“This was made possible by the strength of our operating model, with sustained investment in the team underpinned by robust commercial revenues.
“Everyone associated with Manchester United can be proud of the resilience we have shown through the challenges created by the pandemic, and we look forward to the rest of the season and beyond with great optimism.”
MANCHESTER UNITED SQUAD IS STILL IN A BUILDING PROCESS
Manchester United is reeling from Tuesday’s shock 2-1 loss at Young Boys in their Champions League opener, but they sit top of the Premier League and Woodward is sure Ole Gunnar Solskjaer’s side are on the right track.
“We have been clear in our strategy to build a squad with a blend of top-class recruits and homegrown talent, comprising a balance of youth and experience, with the aim of winning trophies and playing attacking football the Manchester United way,” Woodward will tell investors on a call on Friday afternoon.
“As part of this, we have continued to strengthen our recruitment and scouting processes, and we have also increased our investment in the academy to ensure that this success is sustainable.
“While squad-building is a constant process, we are more confident than ever that we are on the right track.”
The Gunners currently have a number of striking options on their books. However, the majority of which could certainly be improved upon.
ARSENAL TO BOLSTER SQUAD WITH ANOTHER STRIKER
Alexandre Lacazette has been used as the Gunners’ main no.9 under Mikel Arteta. However, the Frenchman’s form is often inconsistent, he is 30 and, most importantly, out of contract next summer.
Pierre-Emerick Aubameyang is another experienced option at center-forward, but he generally performs best on the left-wing.
That leaves the inexperienced trio of Eddie Nketiah, Gabriel Martinelli, and Folarin Balogun.
Nketiah is out of contract next summer whilst both Martinelli and Balogun are yet to prove they can cut it up top for a club who are supposed to be eyeing European football.
ARSENAL EYEING TWO OTHER STRIKERS TO STRENGTHEN SQUAD
So, whilst they did not get round to it this summer, you would assume Arsenal are now eyeing some fresh legs up top.
Football. London reporter Chris Wheatley has recently claimed in a Q&A that Arsenal will try to sign a forward in the winter window and that said position will be prioritized over a midfielder.
And now, some insight into who the north Londoners could be targeting has been provided.
The London side Arsenal has not given up in their pursuit of Real Sociedad center-forward Alexander Isak, and though he recently signed a new contract with the Spanish outfit, it is claimed that the Gunners could still make a move to bring him to north London in the coming months.
Then, according to Rudy Galetti, Arsenal’s interest in Sevilla striker Youssef En-Nesyri continues to grow and the Gunners may decide to include Lacazette in a future negotiation for the Moroccan: