Manchester United football club debts up 30%
US, WASHINGTON (ORDO NEWS) — Not too comforting were the financial results of the first quarter of 2020 for the football club of the English Premier League, Manchester United. “Devils” reported on financial results and the team’s net debt as of March 31 amounted to 429.1 million pounds or 477 million euros.
Compared with the figures for the same period in 2019, debt increased by 127.4 million pounds, or 30%, and after all, Manchester United spent the beginning of the year in more or less acceptable conditions, when the coronavirus pandemic was only beginning to affect the financial side of football.
Only club income from commercial transactions increased by 2 million pounds (3%) and amounted to 68.6 million pounds, according to Manchester Evening News . Only these figures and income from sponsors (44.7 million pounds or + 7.5%) showed growth. The remaining articles fell and quite significantly.
Revenues from the sale of merchandise decreased 23.9 million pounds (minus 1.1 million), revenues from broadcasts fell 51.7% from 53.8 million pounds to 26 million, revenues from matches also decreased by 2.6 million pounds (-8.2%). However, experts expect the second quarter of 2020 to look even more depressing.
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