Share this @internewscast.com

<!–

<!–

<!–

<!–

<!–

<!–

Manchester United have announced record revenues against a backdrop of continued frustration over the Glazer family’s refusal to sell up and the £1billion debt they have dumped on the club.

The only morsel of consolation for fans who want the owners out is news that the Glazers did not draw a dividend in the last financial year, having banked the lion’s share of £33.5m in 2021-22.

However, the owners did benefit from a £1.75m pay-out due to a share price rise on the back of their strategic review, launched a year ago, amid optimism they were ready to sell up.

Sheikh Jassim was also prepared to wipe out United’s debts which have spiralled during the Glazers’ 17 years in power, recently surpassing £1bn for the first time.

Man United have announced record revenues of £648.4m in their latest financial results

Man United have announced record revenues of £648.4m in their latest financial results

Man United have announced record revenues of £648.4m in their latest financial results  

The results show why the Glazers are reluctant to give up the commercial operation at the club (pictured - United owners Avram (left) and Joel Glazer (right))

The results show why the Glazers are reluctant to give up the commercial operation at the club (pictured - United owners Avram (left) and Joel Glazer (right))

The results show why the Glazers are reluctant to give up the commercial operation at the club (pictured – United owners Avram (left) and Joel Glazer (right))

It was reported that United’s net football debt alone – defined by UEFA as borrowings and transfer fees owing minus cash reserves – has grown from £12m at the time of the Americans’ leveraged buyout in 2005 to a record £862m.

However, Sheikh Jassim walked away when it became clear that co-chairmen Joel and Avram Glazer preferred Ratcliffe’s offer of £1.4bn for a quarter of the club, allowing them to pay off their four siblings and retain a majority holding.

Ratcliffe will assume control of football affairs at Old Trafford as part of a deal that has yet to be ratified. But it was plain to see why the Glazers are reluctant to give up the commercial operation when the latest results came out at noon on Thursday.

United announced record full-year revenues of £648.4m despite being in the Europa League last season. It eclipsed the previous best of £627m in 2018-19 when the club were in the Champions League.

It’s predicted that United will break the record again next year with estimated revenues of between £650m and £680m on the back of a new 10-year, £900m kit deal with adidas and £60m-a-year shirt sponsorship with Snapdragon.

Sir Jim Ratcliffe agreed a £1.4bn deal to purchase a 25 per cent stake in the club and he is set to assume control of football affairs, while the Glazers will run the commercial operations

Sir Jim Ratcliffe agreed a £1.4bn deal to purchase a 25 per cent stake in the club and he is set to assume control of football affairs, while the Glazers will run the commercial operations

Sir Jim Ratcliffe agreed a £1.4bn deal to purchase a 25 per cent stake in the club and he is set to assume control of football affairs, while the Glazers will run the commercial operations

United's hugely unpopular American owners have drained more than £1bn out of the club since their leveraged takeover in 2005 and supporters have regularly protested against them

United's hugely unpopular American owners have drained more than £1bn out of the club since their leveraged takeover in 2005 and supporters have regularly protested against them

United’s hugely unpopular American owners have drained more than £1bn out of the club since their leveraged takeover in 2005 and supporters have regularly protested against them 

Commercial revenues exceeded £300m for the first time at £302.9m, up £45.1m based on a £41.6m increase in sponsorship and £3.5m in retail.

Broadcast revenue was down £5.8m because United were playing in the Europa League rather than the Champions League, although that also meant an automatic pay-cut for the playing squad which saved £52.8m.

None of which is likely to appease fans desperate to see the back of the Glazers. Protests planned for Tuesday’s Champions League tie against FC Copenhagen were put on hold out of respect to Sir Bobby Charlton, but it won’t be long before the demonstrations begin again.

IT’S ALL KICKING OFF! 

It’s All Kicking Off is an exciting new podcast from Mail Sport that promises a different take on Premier League football.

Share this @internewscast.com
You May Also Like

Celtic Held to 0-0 Draw by Hibernian: Sturdy Defense Earns Hibs a Surprising Point

Twice denied by the crossbar, one goal disallowed for offside and now…

Ricky Hatton’s Son Shares Family’s Deep Heartache Over Legendary Boxer’s Passing: ‘We Had So Many Future Plans’

The son of the legendary British boxer Ricky Hatton reveals that his…

Ex-Drug Dealer for Fallen NRL Star Shares His Journey to Redemption with Help from Childhood Friend Braith Anasta

Aaron Macey has fought diligently over the past four years to reshape…

Galatasaray 1-0 Liverpool: Victor Osimhen’s Penalty Sinks Struggling Reds as Arne Slot Faces Growing Challenges Amid Turmoil

Twenty years after Liverpool’s most celebrated night in Istanbul, there was no…

Ballon d’Or Organizers Unveil Ousmane Dembele’s Lead Over Lamine Yamal and Mohamed Salah’s Chances at the Award

Ousmane Dembele secured a comfortable victory in the Ballon d’Or on Monday…

Graham Potter Speaks Out After ‘Very Disappointing’ West Ham Dismissal, Shares Message with Fans About the ‘Challenging’ End to His Tenure

Graham Potter has opened up on his ‘incredibly disappointing’ West Ham sacking. …

Reality TV Star Explains Why He’s Relieved About Potential Leg Amputation After Severe Injury in Football Match

AFL content creator and reality TV personality Connor Rogers has expressed his…