Ed Woodward insists Manchester United are priority success on the field as

Outgoing Manchester United executive vice-chairman Ed Woodward insists the “top priority is” success on the pitch” as the club’s latest financial results to be announced on the back of a poor one run of results.

The numbers come at a time when the club have had no shine on the field, sliding to the sixth in the Premier League after resounding losses to rivals Liverpool and Manchester City in recent weeks.

Manager Ole Gunnar Solskjaer is under increasing pressure for the on-field situation around, with the club currently nine points behind leaders Chelsea.

woodward, who is going to leave his role at the end of the year, said: “While this financial results demonstrating our resilience through the pandemic today, our top priority is success on the field.

“The manager, players and everyone at the club are determined to achieve that goal.”

How summer of expenditure had an influence on the wage bill

United’s wage bill is in the period met up 23 percent in they signed Cristiano Ronaldo with.

figures for the first quarter of the 2021-22 financial year show An rise of £16.6 million in “employee benefit costs” compared met the corresponding period of the previous year.

The total amount issued on salaries during the quarter ended on September 30, when the club re-signed Ronaldo and also brought in Raphael Varane and Jadon Sancho, was £88.5 million.

This rise was offset by £17.4 million brought in in by means of player sales, mainly Dan James’ move to Leeds, although the club did also earn a sale-on compensation for the transfer of Romelu Lukaku from Inter Milan to Chelsea.

Gain on the rise, but debt just a little down

General, total turnover increased met 16.1 percent to £126.5 million, largely explained by the marked increase in income of the match day that came with the return of fans until games after the corona restrictions were lifted.

Match day proceeds were £18.8m compared met just £1.7m the previous year, when games were played behind closed doors.

This rise helped operating losses decrease from £27.1 million to £10.2 million compared met 2020-21.

Commercial revenues increased met 7.9 percent to 64.4 million pounds. This will be partly caused by the arrival of Ronaldo, although the Portuguese was alone back at the club for the final month of the quarter.

The club’s net debt stood at £439.7 million on September 30th down something like £440.6 million the previous one year.

Read More: Sports News


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