Manchester United had to pay tens of millions of pounds in compensation to get rid of Ole Gunnar Solskjær and bring in Ralf Rangninck.
Less than 2 hours ago
According to, among others
#MUFC report net loss of £115.5m for 2021/22.— Laurie Whitwell (@lauriewhitwell) September 22, 2022
Wage bill £384m, up by £61m. Biggest in division.
Cost of shifting Solskjaer, Rangnick + staff: £24.7m.
Net debt up by £94.5m.
Dividends for the year: £33.6m. Increase due to deferred payment in pandemic.
Story on @TheAthleticUK
Manchester United will have paid a total of 24.7 million pounds in compensation for Solskjær leaving the club and Ralf Rangnick being brought in from Lokomotiv Moscow for the rest of the season.
Compensation to former Man Utd managers Ole Gunnar Solskjaer and Ralf Rangnick, other coaches and staff cost the club £24.7m#MUFC— ᗷIᒪᒪ ᖇIᑕᕮ 🎙📻 (@billrice23) September 22, 2022
The sum must also include compensation for other coaches in the support apparatus who also had to leave last season.
24.7 million pounds corresponds to approximately NOK 240 million. The Manchester Evening News and The Times have previously written that Solskjær received 7.5 million pounds in connection with his departure (NOK 88 million at today’s exchange rate).
The figures were presented to the club’s shareholders by United director Richard Arnold on Thursday afternoon, where the new club manager was to provide information on the club’s financial situation.
Ole Gunnar Solskjær was sacked after the 1-4 loss to Watford last autumn, and before that had a period with several poor results.
Rangnick was scheduled to remain at Manchester United in a consulting role after the job as interim coach, but after the end of the season it became clear that the German would not continue at the club.
In the accounts for the 2021/2022 season, United have gone £115.5 million net in deficit, it emerged in the session with Arnold, according to The Athletic.
In addition, the club’s debt is said to have increased further during the previous season. The debt is now 514 million pounds, corresponding to over six billion kroner.
– The financial results reflect the return from the pandemic, that the stands have been filled again and new commercial income linked to investments in the playing squad. At the same time, the results are negatively affected by the fact that we did not have a summer tour in 2021, increased costs in other areas (including electricity) and the weakening of the pound, said CFO Cliff Baty.
Manchester United sporting director John Murtough says that the club does not expect to invest as heavily in future transfer windows as they did this summer. Then, among others, the billion-dollar purchase Antony, Real Madrid’s Casemiro and centre-back Lisandro Martinez entered the gates at Old Trafford.
The club must have gone way over budget to secure the players. However, Murtough promises that they will do everything they can to facilitate the success of the club’s new manager Erik ten Hag in the future.
– We will continue to support Erik and ensure that he has players with good quality and the right character to achieve success. At the same time, we must ensure that our investments ensure financial stability, says Murtough.
He has allowed himself to be impressed by ten Hag so far.
– There is still a long way to go for the club, but we have already seen, during his four months at the helm, increased cohesion, focus and will. It bodes well for the future, says the sports director.
Published: 22 September 2022 15:14
Updated: September 22, 2022 5:01 p.m