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United reveal the true financial impact of COVID-19

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Manchester United have released quarterly financial figures that reveal the monetary impact of COVID-19 on football.

In a quarterly financial report to investors, Manchester United laid the financial truth on the table for all to see.

There have been murmurings around the football world that the financial implications of a suspended season will be immense.

Now one of the richest clubs in football has shared their figures displaying just how fragile football is.

According to Goal, United’s CFO Cliff Baty presented a report that confirmed an over 25 million Euro direct impact on the club as well as a huge jump in the club’s debt.

Baty said:

“Operationally, the impact of the pandemic and measures to prevent further spread continues to disrupt businesses in a number of ways, most significantly in broadcasting and matchday operations.”

United also announced that they expected to have to reimburse broadcasters over 20 million Euros.

Ed Woodward United CEO was still upbeat though, expressing his delight at the club’s ability to support its charities and local community during the pandemic.

He said:

“Our focus remains on the health and well-being of our colleagues, fans, and partners around the world and we are extremely proud of how those connected to the club have responded during this crisis.”

“Since the start of the pandemic, Manchester United and our foundation have provided assistance to hospitals, charities, and schools in our communities, as well as support for frontline workers and vulnerable fans.” 

“These actions reflect our core values as a club and resilience through adversity.”

The question on many people’s lips will be if this is the impact on such a huge money machine such as United, how will it impact those smaller less affluent clubs?

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