MANCHESTER UNITED’S wage bill has risen again – 12 months after it was the highest in the Premier League.
The Red Devils have released their latest financial figures and they show that they look set to break annual revenue records.
GettyMan Utd’s record wage bill has risen again over the past 12 months[/caption]
PASir Jim Ratcliffe’s purchase bolstered the coffers at Old Trafford[/caption]
They also revealed how, largely due to United’s participation in the Champions League, staff costs have increased at Old Trafford.
And they also show that the Glazer family received no dividends – something the Daily Mail says is likely to be the case going forward.
United had a whopping wage bill totalling £384.1m last season.
During this current period, staff costs have gone up by £95.1m, which is mainly due to them being in Uefa’s top competition rather than Europa League.
United announced club record revenues of £648.4m 12 months ago but still managed to make a loss of £42.1m.
They are predicted to break that figure with a total of between £635m and £665m expected.
These latest figures also show a fee of £156m being paid into the club’s coffers.
That was after Ineos chief Sir Jim Ratcliffe purchased 27.7 per cent of the club in a deal worth £1.03billion.
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Cliff Baty, United’s chief financial officer, said: “We delivered strong revenues during the first half of the fiscal year and have reiterated our guidance for record revenues for the full fiscal year.
“This is an exciting time at Manchester United following the completion of Sir Jim Ratcliffe’s investment, and we are all focused on working together with our new co-owners to drive the club forward and deliver success on the pitch.”
Meanwhile, commercial revenue was down £6.9m as was sponsorship revenue, which dropped by 22 per cent.
But retail enjoyed a growth of 15.2 per cent after United’s new deal with adidas and due to sales from their megastore.
The historic debt of United that relates to the Glazers family’s leveraged buyout is still at £508.1m.
And United’s net debt, which also includes a credit revolving facility, was £710m.
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