In a statement released on Thursday, Manchester United presented its financial results for the third quarter of 2019/2020. A balance sheet heavily affected by the Covid-19 epidemic which interrupted the season in England. "Broadcast revenues for the quarter reached 28.9 million euros, down 51.7% compared to the previous year, mainly due to discounts estimated at € 16.7 million due to broadcasters" the Premier League, the club said in its press release.
The club's financial director, Cliff Baty, has estimated the total impact of the pandemic on the club's turnover at 25.6 million euros since March 13, the date of the end of competitions in England. Over the past nine months, the club's turnover has decreased by 13.8% and operational profit has greatly reduced by 38.7%!
Manchester United wants to be able to finish the Premier League
A disturbing result for the club's executive vice-president, Ed Woodward, who has indicated that he wants "the matches to resume in June" and that all of the competitions in which the Red Devils are still in contention, can be completed "by the end of August".
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Note that the Premier League has just authorized the resumption of training in small groups while maintaining some social distancing. The body is still working to resume competition for mid-June, even if some actors are pessimistic to finish the English Championship.
Currently 5th in the Premier League, Manchester United is not qualified for the Champions League, and this underperformance also explains the decline in figures for the English club.
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