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Executive vice-chairman Ed Woodward has discussed Manchester United’s financial performance in regards to the first quarter of the fiscal year.
It’s safe to say fans won’t be all too pleased with the results nor what he said, given how the decision-makers have been hesitant of late.
Ed Woodward on #MUFC Q1 accounts: “While these financial results today demonstrate our resilience through the pandemic, our top priority is success on the pitch. The manager, players + everyone at the club are determined to achieve that objective.”
— Laurie Whitwell (@lauriewhitwell) November 17, 2021
Employee wages for quarter were £88.5 m, increase of £16.6m (23.1%) on prior year quarter due to investment in squad (Ronaldo, Varane, Sancho).
Profit on transfers for quarter was £17.4m (loss of £12.6m last year). Mainly due to James sale but also sell-on for Lukaku #MUFC
— Laurie Whitwell (@lauriewhitwell) November 17, 2021
Total revenue for the quarter: £126.5m.
Up from £109m last year (16.1% rise), mainly due to fans being back at Old Trafford.
Commercial slightly up (8%), broadcast slightly down (9%).
Net debt, of course, barely changed: £439.7m, compared to £440.6m same stage last year. #MUFC
— Laurie Whitwell (@lauriewhitwell) November 17, 2021
Of course the most telling number would be the net debt and the fact it hasn’t really changed for the whole year.
United fans have been furious with the club’s owners the Glazer family ever since they became in charge due to the huge amounts of debt placed on the club.
To make matters worse, they often take out dividends to reward themselves regardless of whatever turmoil the club or the world is going through.
Although almost every supporter wants to see the back of the Glazers, the truth is no potential new owner would want to buy the Red Devils and clear up such a large amount of debt.
In a sense it means the Glazers can rest assured they will always remain in charge until they decide to leave.
It’s also safe to assume they won’t be forced out of the club given how they have ignored past protests, dating back as far as when they first became the new owners.
Woodward’s claim of wanting success on the pitch appears to lack any actual evidence as well, given the poor decisions they’ve made as well as their hesitancy and lack of urgency of late.
The post Ed Woodward insists Manchester United aim for success on the pitch appeared first on Man United News And Transfer News | The Peoples Person.
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| Article Name | Hypocrisy?: Glazers refuse to change this crucial strategy despite fans' rage |
| Description |
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| Author Name | Candyboy |
| Published On | November 17, 2021 |
| Post Category |
Man Utd
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