Financial reports of Manchester United for the first fiscal quarter ended 30 September 2021 have been released, with the club’s debt currently standing at £439.7 million. In layman’s terms, employee benefits expense, or staff salary was another notable statistic from the data.
Costs in this area have climbed by £16.6 million, or 23.1 percent, compared to the same period last year due to “investment in the playing squad.” The team’s performance has been inconsistent this season in spite of this significant investment in the playing roster.
In a statement accompanying the first-quarter financial results of the football club, Woodward said the club was emerging from the pandemic in a strong position. The results show a rise in overall revenue, driven by increased matchday and commercial income following the return of fans to Old Trafford this season. However, the executive vice-chairman stressed that the most important results were those on the pitch.
United has already dropped four points in the Premier League, has been knocked out of the Carabao Cup, and has looked shaky in Europe. Manager Ole Gunnar Solskjaer is under pressure to turn things around, and executive vice-chairman Ed Woodward – who will step down in the New Year – emphasised the importance of obtaining results on the field in a statement accompanying the latest financial data.
the read, “while these financial results today demonstrate our resilience through the pandemic, our top priority is success on the pitch. The manager, players and everyone at the club are determined to achieve that objective.”