On Thursday, United presented the financial figures for the financial year that ended on 30 June, and there it appears that the club now has the highest salary expenses in Premier League history.
Following the purchases of star players such as Cristiano Ronaldo, Jadon Sancho and Raphaël Varane, the wage bill at the big club has increased by 19.1 percent to £384.2 million. This corresponds to NOK 4.5 billion at today’s exchange rate.
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The previous “wage record” was held by Manchester City with £355 million a year. In connection with the presentation of the figures, the United management emphasized that it has been important for the club to strengthen the playing staff.
– 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.
– Our core mission is to win football matches and entertain the fans, commented club director Richard Arnold.
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According to The Athletic journalist Laurie Whitwell, United will have paid 24.7 million pounds in compensation for Ole Gunnar Solskjær and Ralf Rangnick having to leave the club.
Solskjær was fired last autumn, while his replacement Rangnick left the club after last season, although he was initially supposed to be associated with the club for two more years in a consulting role.
United’s revenue grew by 18 per cent in 2021/22, but the club still reports a net loss of £115.5m. At the same time, the club’s debt is growing sharply.
United’s debt rose by 22 per cent to £514.9m. Much of the increase is explained by the fact that the US dollar has strengthened against the pound.
During the period, United paid out £33.6m in dividends to shareholders, according to the DPA.