Manchester United chief executive Omar Berrada has said the club’s summer transfer strategy was shaped by the need to maintain “financial sustainability” after the latest accounts revealed wider overall losses.
united reported record full-year revenue of £677.6m on Wednesday, along with an operating profit of £22.6m.
Despite these figures, the club recorded an overall loss of £43m, up from £33m the previous year.
Loans also increased by £95m, taking the club’s total debt to £583m.
United splashed out £155m on midfielders Andrey Santos, Youri Tielemans and Carlos Baleba in the summer transfer window, but their overall outlay was considerably lower than their six traditional rivals.
Manchester CityLiverpool, Arsenal, Tottenham and Chelsea spent the most, with City, Liverpool, Tottenham and Chelsea each paying at least £100m for an individual player.
United remain the only traditional top six club yet to spend £100m on a single signing.
Speaking as the club released its fourth-quarter and full-year financial results, Berrada said United would continue to be prudent with their spending.
“While these results confirm that we are on the right trajectory, we will continue to take a disciplined approach to ensure that our finances remain sustainable,” Berrada said.
“With this financial sustainability in mind, we have strengthened our men’s and women’s teams during the summer window and our men’s team has seen the return of Champions League football to Old Trafford.”
United continues to cut costs
The latest club figures they also highlight the financial pressures United has faced as it tries to improve the business.
In a statement accompanying the results, United said the club “continues on its path to improve operational efficiency and financial sustainability”.
A club source added: “Stabilizing the business has required, and will continue to require, hard work and financial discipline.”
One of the major costs recorded during the financial year was the £8.2m paid to Ruben Amorim and his coaching staff following the sacking of the Portuguese coach in January.
United subsequently saved around £8.5m when Amorim agreed to take over from AC Milan in the summer.
The club also repaid around £150m of its revolving credit facility between March and June as part of efforts to reduce its financial commitments.
United’s accounts also revealed a £63.5m ($84m) payment for land linked to plans for a new stadium.
