Football News Update: Manchester United Confident in Complying with Premier League Financial Rules Despite £71.4M Net Loss
Manchester, UK – (May 25, 2023) – Manchester United are confident of adhering to the Premier League’s financial rules for the 2023-24 season, despite posting a £71.4 million net loss in the third quarter.
The net loss figure includes £30.3 million in exceptional costs related to the sale of 27.7% of voting rights in the club to Sir Jim Ratcliffe, including consultancy fees owed to the American firm Raine. United sources view these costs as a necessary investment to help establish the ownership and management structures they believe will bring greater discipline to their player recruitment process, while maintaining the club’s commercial resilience.
The Premier League’s profit and sustainability regulations (PSR) deadline passed on June 30, and United sources have expressed confidence in their ability to comply with the rules for the assessment period ending with the 2023-24 season. The PSR allow for losses of up to £105 million over a three-season assessment period, and they will remain in place next season, with new financial rules set to be adopted for the 2025-26 season.
To help meet the PSR requirements, the club has been working to trim squad costs, including the January loan moves of Jadon Sancho to Borussia Dortmund and Donny van de Beek to Eintracht Frankfurt. Total operating expenses were up 15% on the equivalent quarter last year to £203.7 million, which included £91.2 million in employee costs, reflecting investment in the first-team squad.
In other news, Donny van de Beek has confirmed his departure from Manchester United, with the midfielder in the process of securing a move to Spanish side Girona after four difficult years at Old Trafford.
🔗 Source