Manchester United announce that they’ve lost £70m in annual revenue over COVID-19

Despite an influx of transfer business this summer, clubs from across the world have already started reporting serious losses because of the coronavirus pandemic. Serie A giants Juventus announced that they lost £71 million in annual revenue for the financial year 2019/20 while Barcelona announced that their net debt had doubled to £488 million. Not only that the La Liga giants also announced a loss of £97 million for the same financial year.

They are not the only ones, however, as Manchester United join the list with them announcing losses of £70 million in annual revenue. Their net debt also increased by a 133% to £474.1 million, with their total revenue down 13% to £509 million which is their lowest figure since the 2014/15 financial year. Not only that, it’s a drop from their 2018/19 revenues which finished at £627.1 million for a drop of 18.8%.

The report further added that broadcasting revenue, for the club, fell by 41.9% from £241.2 million to £140.2 million while their matchday revenue dropped 19%. They won’t be the only ones, however, as reports have indicated that nearly every Premier League club has more or less similar figures with broadcast and matchday severely affected.