Manchester United reported losses of 113.2 million pounds ($148 million) in its latest accounts Wednesday for the year ending June 30, despite record revenues of 661.8 million pounds ($866 million).
PublishedMANCHESTER, England — Manchester United reported losses of 113.2 million pounds in its latest accounts Wednesday for the year ending June 30, despite record revenues of 661.8 million pounds .
The league's profit and sustainability rules allow clubs to lose a maximum of 105 million pounds over a three-year period or face sanctions. Last season Everton and Nottingham Forest were handed points deductions for breaking those rules. United has undergone an extensive restructuring program following Ratcliffe's investment of $1.3 billion for a 27.7% stake.
“We are working towards greater financial sustainability and making changes to our operations to make them more efficient, to ensure we are directing our resources to enhancing on-pitch performance," Berrarda said Wednesday.
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