Manchester United took a big financial hit as their 2019/20 financial statement has been published, highlighting the damage coronavirus caused as football was temporarily cancelled.
United’s total revenue dropped from £627.1m in 2019, to £509m in 2020 meaning that their numbers were down by 18.8% for the annual period ending 30 June 2020.
The last three months only accounted for 16% of the total revenue, with matchday and broadcasting revenue plummeting due to the rescheduled games being played behind closed doors.
The final three months only included four fixtures for Manchester United as domestic competitions were resumed on 17 June 2020, and only one of those fixtures was played at Old Trafford.
All remaining domestic and European matches for the 2019/20 season were played in July and August meaning they were absent from this year’s finances and will instead feature at the start of the 2021 records.
United made a net loss of £23.2m whereas in 2019 they registered a net profit of £18.9m.
United were in a net profit of £13.3m heading into the fourth quarter of their 2020 financial statement but recorded a loss of £36.5m during the last three months as the pandemic helped wipe the initial profit and impact a significant loss.
The club’s net debt was way over double of the 2019 figure, climbing from £203.6m to £474.1m, an increase of 132.9%.