DBasia.news – Manchester United’s management indicated that they will not be active in the transfer market next winter after they announced a loss of up to £115.5 million, or around Rp 1.9 trillion in the 2021-2022 season.
The amount released combining the last quarter of the club’s financial year ending in June showed losses increased by £23 million, or around Rp 389 billion in the previous 12 months. The club’s net debt has also increased, from £419.5 million in 2021 to £514.9 million this year, an increase of more than 22%.
Despite the loss, United’s revenue rose £89.1 million, or around Rp 1.5 trillion. United paid a £33.6 million dividend to shareholders.
“Our financial results for fiscal year 2022 reflect the recovery from the pandemic, a full return of supporters and new commercial partnerships offset by increased investment in the squad,” said chief financial officer Cliff Baty.
“Our results were affected by the absence of a summer tour in July 2021, extraordinary material and increased utility costs, and the impact of a weaker pound on our non-cash financial costs.”
This situation made United’s management indicate that they would be inactive in the winter transfer market. The reason, last summer, United have spent £225 million, or around Rp 3.8 trillion for player investment.
Antony became the second most expensive player in the club’s history after the management brought him from Ajax Amsterdam for a value of £85.5 million. Meanwhile Casemiro was flown in from Real Madrid for £60 million.
“Over the summer, we made a significant investment in the first-team squad with the permanent addition of five regular starters, including a balance between experienced and young players,” stated director of football John Murtough as quoted on the Manchester Evening News website.
“We also saw the number of players leaving was higher than usual. This is an equally important part of refreshing the squad after a disappointing 2021/22 season.
“We will continue to support Erik [ten Hag] in ensuring he has players with the right qualities and character to achieve success while ensuring the investment remains consistent with financial sustainability.”
“Overall, we are ahead of schedule in signing players. We do not anticipate the same level of activity in the upcoming transfer window. As usual, our planning is focused on the summer window.”