Manchester United cut their wage bill by £53m but STILL announce a loss despite record £650m revenue

• Account for the whole 2022-23 season showed revenues of £648.4million
• Lack of Champions League football saw a reduction in the squad wage bill
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Manchester United announced record revenues of £648.4million for last season with their wage bill dropping by £52.8m.

The Old Trafford club’s long-term debt remains at £538million with the Glazer family deciding not to take a dividend out of the club during the 2022-23 season.

The wage bill went down to £331.4m, the figures revealed, mainly because United didn’t compete in the Champions League last season.

Commercial revenues exceeded £300m for the first time but despite the record revenues, the club still recorded a £42.1m loss for 2022-23. 

In Erik ten Hag’s first season as manager, United returned to Champions League football by finishing third in the Premier League and ended a six-year trophy drought by lifting the Carabao Cup. 

Manchester United announced record revenues for the 2022-23 season but the club’s debt remained static at £538million

The Glazer family did not take any dividends out of United with debt remaining at £538m

Andre Onana’s penalty save against Copenhagen kept alive United’s Champions League hopes

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United trumpeted record ticket sales and attendances in their latest accounts, as well as their £900m Adidas kit deal through until 2035.

But there was no update on the future of the club’s ownership – or the usual conference call with investors – as Sir Jim Ratcliffe awaits a decision on whether his £1.4billion purchase of 25 per cent of the club has been accepted by the Glazers.

United are projecting their revenues will rise to £680m next year following their return to the lucrative Champions League. Their previous highest revenues were £627m for the 2018-19 campaign. 

Erik Ten Hag’s side kept their hopes of getting out of their Champions League group alive with a 1-0 win over Copenhagen on Tuesday night.

Andre Onana made a crucial late penalty save to secure the win after Harry Maguire’s goal. 

More to follow. 

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