Man United's revenue drops, debts rise amid pandemic

·1 min read
Manchester United's manager Ole Gunnar Solskjaer reacts after Tottenham scored their sixth goal during the English Premier League soccer match between Manchester United and Tottenham Hotspur at Old Trafford in Manchester, England, Sunday, Oct. 4, 2020. (Oli Scarff/Pool via AP)
Manchester United's manager Ole Gunnar Solskjaer reacts after Tottenham scored their sixth goal during the English Premier League soccer match between Manchester United and Tottenham Hotspur at Old Trafford in Manchester, England, Sunday, Oct. 4, 2020. (Oli Scarff/Pool via AP)

MANCHESTER, England (AP) — Manchester United's revenue dropped by almost a fifth because the team did not play in the Champions League and because it was forced to close its stadium to fans during the coronavirus pandemic, the English club said Wednesday.

The Premier League club, which is listed on the New York Stock Exchange, generated 509 million pounds ($665 million) in the year to June 30 — a drop of 19%. Debt soared 133% to 474.1 million pounds ($619 million), while there was a loss of 23.2 million pounds ($30 million).

While the team is back in the Champions League, there is no return of matchday revenue from supporters with games still being played in empty stadiums to contain the spread of the coronavirus.

United made only 5.5 million pounds ($7 million) in matchday revenue from April to June, compared to 23.8 million pounds ($31 million) the previous year.

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