Premier League giants Manchester United have reported a net loss of £113.2million in the 2023-24 season.
It is a massive increase on the £28.7m losses they had in 2022-23, but close to the £115.5m they had in 2021-22.
It means their total losses over the last five years have reached £370m.
However according to the BBC, Manchester United have not breached the Premier League’s profit and sustainability rules as the club can claim allowances back.
The rules state a club cannot lose more than £105m across three years, something that both Everton and Nottingham Forest received points deductions for.
Chief executive Omar Berrada said: “The club remains committed to, and in compliance with, both the Premier League’s profit and sustainability rules and UEFA’s financial fair play regulations.
It follows losses of £28.7m in 2022-23 and £115.5m in 2021-22, and their latest figures take total losses over the past five years to over £370m. 😬#BBCFootball #MUFC pic.twitter.com/mBcsMA4bX3
— BBC Sport (@BBCSport) September 11, 2024
The newest set of figures come from a period where Manchester United finished eighth in the league and crashed out of the group stages of the Champions League.
They did win the FA Cup, but that competition is said to be minor when it comes to financial gain.
Sir Jim Ratcliffe also bought a 27.7% stake in the club last season, and has been overseeing a period of change at Old Trafford.
Recently the club announced it would be cutting 250 jobs in an effort to reduce costs and they expect to save between £30m and £35m in the next three years.
They also believe they will generate over £650m in revenue next year, which will help pay some of the £496m debt they owe.
Head coach Erik ten Hag signed five new players this summer, but got some big wages off the books, including the likes of Raphael Varane and Jadon Sancho.
