Even though Manchester United's revenues increased by 18 per cent, they still posted a net loss of over a hundred million dollars.
Their financial year ended in June and the figures show a rise in losses.
The club's net debt increased by more than 22 per cent this year.
Unrealised foreign exchange losses on the retranslation of borrowings in United States dollars was the main reason for the rise. A rise in revenue was recorded.
"Our financial results reflect a recovery from the Pandemic, a full return of fans, and new commercial partnerships offset by increased investment in the playing squad," said the CFO.
The absence of a summer tour in July 2021, material exceptional and increased utility costs, and the impact of the weakening of sterling on our non-cash finance costs have negatively impacted our results.
Our club's core mission is to win football matches and entertain our fans.
Jadon Sancho and Raphael Varane's wages increased by 19.1 per cent as a result of the signings last summer.
Manchester City's previous record of 355m is the highest figure in the history of the premier league.
Richard Arnold said that the club's core mission was to win football matches and entertain its fans.
Since our last earnings report, we have strengthened our men's first-team squad, completed a successful summer tour, and established a foundation for the future under our new manager.
Our goal is to reinforce our position among the leading clubs in the Women's Super League.
Everyone at the club is aligned on a clear strategy to deliver sustained success on the pitch and a sustainable economic model off it, to the benefit of fans, shareholders, and other stakeholders.
The pay-offs were made to the managers who were sacked in November and the one who did not take up a two-year consultant role at the end of the season.
The club expects total revenue to be between half a billion and a billion dollars, and adjusted core profit to be between 100m and a hundred million dollars.
The team did not make the playoffs this season.
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