Manchester United chief executive Omar Berrada has vowed to work towards financial stability following the Red Devils’ worrying report for the 2023/24 season.
Despite record revenues, United posted losses of £113.2m last seasoncontinuing its five-year run without a profit in its annual financial records.
It appears that the three-year losses of £254.7 million united risks breaching the Premier League’s profit and sustainability rules and UEFA’s Financial Fair Play, although the club remains committed to complying with all regulations.
“It has been a busy off-season for the club with successful training sessions for both our men’s and women’s teams,” Berrada said in a statement which accompanies the financial report. “We have strengthened our men’s first team with five exciting players and put in place a new football leadership structure to provide greater support to our coach, Erik ten Hag.
“Dan Ashworth has been appointed sporting director and Jason Wilcox has joined us as technical director, two highly experienced and highly regarded professionals who will bring great depth to our squad. We have added six players to our women’s team and are investing to ensuring all our teams have access to world-class training facilities at a fully refurbished Carrington.
“We are also delighted to have extended our flagship partnership with Snapdragon, after an excellent start, for a further two years, on top of the initial three-year term.
“As I embark on my new role as chief executive of this historic club, we are all very focused on working collectively to create a bright future, with footballing success at the heart.
“We are working towards greater financial sustainability and making changes to our operations to make them more efficient, to ensure we are directing our resources to improve performance on the field.
“Today, we’re announcing new guidance for fiscal year 2025, which reflects a partial impact of the year from the transformative cost savings and organizational changes we’ve been busy implementing over the summer.
“Ultimately, the strength of Manchester United is driven by the passion and loyalty of our supporters. Our clear aim is to return the club to the pinnacle of European football. Everyone at the club is aligned on a clear strategy to achieve sustained success , both on and off the pitch, for the maximum benefit of our fans, shareholders and a wide range of stakeholders.”
