Manchester United has reported a net loss of £43 million ($57m) for the financial year ending June 30, an increase of nearly one-third from the previous year. The club announced record revenues of £677.6 million ($897.8m), up 1.7%, but still plunged deeper into the red.

This marks the seventh consecutive annual loss for the Red Devils. The accounts reveal that the club paid £8.2 million ($10.9m) in exceptional items, mostly related to the departure of manager Ruben Amorim, who left in January after 14 months in charge. A significant rise in loan repayments and co-owner Jim Ratcliffe's cost-cutting measures also weighed on the balance sheet. Since acquiring a stake in February 2024, Ratcliffe has overseen widespread job cuts and other unpopular austerity measures.

Revenue growth was driven by a nearly 20% jump in broadcasting income, boosted by a third-place finish in the Premier League, up from 15th the previous season. However, commercial and match-day income each fell close to 5% during a season with no European fixtures. The club also disclosed it paid £63.5 million ($84m) to acquire land adjacent to Old Trafford, where it plans to build a new 100,000-capacity stadium.

CEO Omar Berrada claimed the figures demonstrate the club's underlying strength. "This shows the direct impact of the work we have been doing over the past two years," he said in a statement. "It also proves Manchester United's enduring popularity and commercial strength. While these results confirm that we are on the right trajectory, we will continue to take a disciplined approach to ensure our finances remain sustainable." However, critics might question whether a seventh straight loss truly signals a sustainable path.

United expect revenue of between £740 million ($980m) and £760 million ($1bn) in the current financial year. On the pitch, Michael Carrick's team has started the new season poorly, taking only five points from five Premier League games – equalling the club's worst-ever start – and crashing out of the English League Cup last week.

Source: www.aljazeera.com