Poor Moyes! He made United lose £35m

Scooper One | 18th Sep 2015

Poor Moyes! He made United lose £35m

In a 2015-14 annual financial report released on Thursday, Manchester United have claimed they lost £35million for not qualifying for UEFA Champions League during the Moyes era

After winning the Premier League in the 2012/13 season United were knocked out of the Champions League at the group stage and subsequently failed to qualify the following season finishing 7th.

The cost of missing out on European football’s premier club competition for just one year was around £35m.
United brought in £45.6m less from matchday and broadcasting revenue, however this was slightly offset by an £11.8m drop in staff costs, which was due largely to a lack of Champions League incentive payments.

The figures show that the club brought in revenues of £395.2m and made a loss of £1.2m.

That is down on 2013-14, when they recorded a club-record revenue of £433.2m and a £23.9m profit, which is due in the most part to a lack of broadcast money and gate receipts after missing out on the Champions League

The club also claimed in their report they anticipate revenues of £500million in 2015-16 due mainly to their world record £750m kit deal with Adidas and renewed presence in the Champions League after a year’s absence.

Real Madrid holds the world record of club’s annual income of £513.7m in 2013-14 and United’s predicted income will be close to that

However, executive vice chairman ED Woodward has expressed optimism for the 2015/16 season
‘As we look to the new season, we are enthusiastic about our strong position, both on and off the pitch,’ he said.
‘In recent weeks we have further strengthened our squad with an exciting mix of experience and youth, qualified for the group stage of the UEFA Champions League, and seen an impressive launch of our partnership with adidas.

‘Our record revenue and EBITDA (earnings before interest, taxes, depreciation, and amortisation) guidance for 2016 reflects the underlying strength of our business and our confidence in its continued growth.’