Manchester United 'ahead of schedule' in transfer recruitment; club debt rises to over half a billion dollars
CBSN
United registered a loss of £115.5 million for the 2021-22 season
Manchester United are "ahead of schedule" in their mission to rebuild their playing squad and expect less activity in future summer windows after the club announced a net loss of £115.5 million for the 2021-22 season.
Figures released on Thursday for the final quarter of their financial year showed losses that were £23 million higher than the previous 12 months despite revenue having risen by 18% to £583 million after the full returns of fans to English football stadia. The club's net debt rose from £419.5 million to £514.9 million ($581 million), something United said was due to the British pound's weak position against the US dollar. United also paid out a record £33.6 million in dividends to shareholders.
The club's accounts for 2021-22 revealed that they had the biggest wage bill in Premier League history as the recruitment of Cristiano Ronaldo, Raphael Varane and Jadon Sancho in the summer of 2021 sent their salary level to £384.2 million, smashing the previous record of £355 million spent by Manchester City.
