Manchester United have reportedly announced a whooping £113 million net loss in 2024 despite posting a record full year revenue.
The Red Devils are confident the club will comply with the Premier League’s profit and sustainability rules even after recording such loss.
Despite recording record-breaking revenue of £661.8 million for the entire year, United’s net losses climbed, primarily as a result of higher player salaries and transfer costs.
According to The Mirror, in spite of the significant net losses, United said in a statement: “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.”
Clubs may deduct a variety of expenses including depreciation, investment in and spending on infrastructure, women’s football, youth development, and community projects, in order to balance their net losses and maintain compliance with FFP and PSR.
Last season, Everton and Nottingham Forest both lost points after it was discovered that they had violated PSR.
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Club losses during the current three-year PSR cycle, which starts from 2021-22 season, are limited to £105 million.
The expenditures of the £47.8m linked to the strategic assessment that the Glazer family initiated in November 2022—and which finally led to Sir Jim Ratcliffe purchasing a 27.7% ownership position in the team—were included in United’s recently disclosed losses. United’s income of £661.8 million set a record for the club.
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