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Manchester United slips to quarterly loss; CEO admits challenges on pitch


//sports-competition.news-articles.net/content/2 .. arterly-loss-ceo-admits-challenges-on-pitch.html
Published in Sports and Competition on by MSN   Print publication without navigation

Manchester United reported an adjusted net loss of 6.2 million pounds ($7.80 million) in the second quarter, hurt by lower revenue as the club played the less lucrative Europa instead of the Champions League competition this season.

Manchester United reported a quarterly loss of 71.4 million pounds ($90.3 million) for the three months ending March 31, 2024, despite a revenue increase to 157.1 million pounds from 142.4 million pounds the previous year. The club's CEO, Omar Berrada, acknowledged the team's poor performance on the pitch, which has not met expectations, contributing to the financial downturn. This period saw Manchester United finishing eighth in the Premier League, their worst-ever finish in the competition, and failing to progress in the Champions League. Berrada emphasized the need for a strategic review to address these challenges, focusing on improving both on-field results and financial stability. The financial strain is also attributed to higher wages and matchday costs, despite an increase in matchday revenue due to more home games.

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