- Title: Man Utd losses widen due to COVID curbs
- Date: 17th September 2021
- Summary: BERN, SWITZERLAND (SEPTEMBER 13, 2021) (REUTERS) MANCHESTER UNITED FORWARD, CRISTIANO RONALDO, COMING OUT ONTO PITCH AHEAD OF TEAM TRAINING SESSION OTHER PLAYERS COMING OUT MANCHESTER UNITED DEFENDER, HARRY MAGUIRE, AND TEAM MATES STRETCHING MIDFIELDER, PAUL POGBA, WALKING AND KICKING A BALL RONALDO TAKING PART IN A DRILL KNOWN AS A RONDO WITH TEAM MATES MANCHESTER UNITED MANAGER, OLE GUNNAR SOLSKJAER, KICKING A BALL MAGUIRE ON THE PITCH AND BOOTING A BALL RONALDO AND SQUAD JOGGING A LAP AROUND THE PITCH MANCHESTER, ENGLAND, UNITED KINGDOM (SEPTEMBER 11, 2021) (REUTERS) VENDOR SELLING CRISTIANO RONALDO SCARVES FANS CHANTING (English) "VIVA RONALDO" FANS CHANTING (English) "VIVA RONALDO" / FANS WALKING TOWARDS STADIUM VARIOUS OF VENDOR HOLDING A RONALDO BANNER READING (English) "THE LAST DANCE" FANS IN RONALDO REPLICA SHIRTS CARRYING FLAG WALKING TOWARDS STADIUM FANS CARRYING RONALDO CARDBOARD CUT-OUT / FANS CHANTING (English) "VIVA RONALDO" FANS WALKING TOWARDS STADIUM CHANTING (English) "VIVA RONALDO" OLD TRAFFORD STADIUM
- Embargoed: 1st October 2021 12:18
- Keywords: Barcelona Bayern Munich Cristiano Ronaldo Manchester United PSG Premier League Real Madrid football results soccer
- Location: MANCHESTER, ENGLAND, UK / BERN, SWITZERLAND
- City: MANCHESTER, ENGLAND, UK / BERN, SWITZERLAND
- Country: United Kingdom
- Topics: Europe,Soccer,Sport
- Reuters ID: LVA001EV3XXRZ
- Aspect Ratio: 16:9
- Story Text: Manchester United's full-year loss widened as pandemic-induced lockdowns hammered matchday sales and commercial revenue, the soccer club said, while not setting financial targets for the year due to continuing uncertainty.
The English soccer club’s last two financial years were marred by lockdowns that disrupted sporting calendars and kept fans away from stadiums for extended periods, taking a heavy toll on matchday sales.
"There is little doubt that those 12 months (fiscal 2021) were among the most challenging in the history of Manchester United," Executive Vice Chairman Ed Woodward said in prepared comments he will make to investors on a call this afternoon.
Total revenue for the year ended June 30 was down 2.9% to 494.1 million pounds ($681.41 million), while annual matchday sales plummeted 92.1%.
The club, who signed five-time Ballon d'Or winner Cristiano Ronaldo from Italy's Juventus last month, saw a 16.8% fall in annual commercial revenue, although the club's largest segment of broadcasting revenue surged by 81.7%.
The English soccer club said its net loss for the year ended June 30 was 92.2 million pounds, compared with a loss of 23.2 million pounds in the year-ago period as the onset of COVID-19 in 2020 disrupted all walks of life globally.
The loss was inflated by a one-off taxation issue with the company's income tax expense for the period surging to 68.2 million pounds from 2.4 million pounds a year earlier.
($1 = 0.7251 pounds)
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