Manchester-United releases what the Pandemic Cost them

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Manchester-United releases what the Pandemic Cost them
Manchester-United releases what the Pandemic Cost them

Manchester-United releases what the Pandemic Cost them

Manchester United say the coronavirus pandemic has cost them an initial £28m – and expect the ultimate figure to be far higher.

United revealed their third-quarter results to 31 advance Thursday.

Chief treasurer Cliff Baty said they’re set handy back £20m in TV revenue to broadcasters albeit the Premier League season is completed.

United lost a further £8m over the ultimate three weeks of March, once they had three matches postponed.

A total of 11 United matches are postponed due to the pandemic.

Manchester-United releases what the Pandemic Cost them

Conversing during a call following the earliest financial reports were released, Baty expressed that Premier League television broadcasters would earn £20m back from the club as a result of changes in dates and kick-off times caused by the pandemic.

Considering the games that were called off – including  the Europa League and FA Cup matches- Baty said that sponsorship revenues had “contracted”, which retail sales had been “impacted” with the club store at Old Trafford still closed.

He added that matchday revenues were “significantly impacted”, with an acceptance games are going to be played behind closed doors for the foreseeable future.

Manchester-United releases what the Pandemic Cost them

Postponement of Tottenham game ‘cost £4m’
United have refused to place a figure on what the anticipated overall financial cost of the pandemic are going to be ultimately – but executive vice-chairman Ed Woodward said the main burden would fall within the current quarter, which runs to 30 June.

“Our third-quarter prove of performance show the effect that the pandemic has had on the club but the larger impact tend to be within the current quarter and certain beyond,” said Woodward.

Revenues for the quarter decreased by 18.7% to £123.7m. The club’s debt increased by £124.4m to £429.1m.

Manchester-United releases what the Pandemic Cost them

Baty said the postponement of the Premier League match with Tottenham on 15 March  due to the pandemic cost United £4m alone.

“These are hard times and that we must accept the fact that this crisis won’t vanish overnight,” said Woodward.

Manchester-United releases what the Pandemic Cost them

“However, our club is established on a strong foundation. We are firmly optimistic about the long-term prospects for the club once we overcome through what’s undoubtedly one among the foremost extraordinary and trying periods in the 142-year history of Manchester United.”

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