Manchester United bondage with hundreds of millions
Manchester United bondage with hundreds of millionsIn sporting terms, this season is not going exactly as planned bosses Manchester United, but also from an economic point of view 'Reds' record negative figures.
Debts of the English record of 20 titles rose to 338 million pounds (about 393 million euros) mainly due to vote in a referendum on Britain leaving the European Union. According to Executive Director of Club Ed Woodward obligations of the club have increased by around 18% with respect to the voting of the British pound and the collapse of international financial markets. Non-participation in the Champions League also played a role.
Total profits of Manchester United in the first quarter of this year fell by around 2.8 percent to 3.4 million pounds (nearly 3.9 million euros).
"Although our revenue decreased by missed chance to play in the Champions League, we remain on track to celebrate record profits at the end of the year," said Woodward.
We should not forget the fact that Manchester United made a pretty expensive purchases in the summer, performing and most expensive transfer in football history by attracting French national Paul Pogba from Juventus for a record 105 million euros.