Despite lacklustre performance, Man Utd records impressive financial results
Manchester United has recorded a big financial boost in its operation for the first quarter of 2023 despite a not-too-impressive performance on the field of play.
Revenues for the year were up by 11 per cent at £170m for the three months ended March 31, reflecting matchday revenues and growth in the club’s commercial business.
Full-year revenues increased to a record £630m-£640 million and earnings (EBITDA) to £140m-£150m.
There have been record match attendance and matchday revenues, reflecting Erik ten Hag’s positive first season and Cup runs to both domestic finals. Ticket sales for the 2022/23 season surpassed the previous record set in 2016/17 with a cumulative 2.4m tickets sold
Record sales of global memberships, with the 2022/23 programme having closed at 360,000 members, the largest paid membership in world sport
Season ticket and Executive Club renewals for 2023/24 sold out in record time with the lowest ever churn; over 146,000 individuals are currently on the Season Ticket waiting list
Long-term US dollar debt is unchanged at $650m with £73.7m of cash and cash equivalents – down from £95.8m in the same period last year – reflecting investment in the team; however up from £31m in the second quarter, reflecting cash inflows from ticket and sponsorship revenues
