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Manchester United Post £3.3m Financial Loss In 3rd Quarter Fiscal 2020 Results

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Manchester United have revealed £3.3 million loss in their finances for the third quarter of the year due in part to coronavirus outbreak.

The Club estimated that the coronavirus pandemic has already cost the it £23 million.

But Executive Vice Chairman, Ed Woodward, has pledged to sail the club through the challenging time.

He says “We’re well-positioned, both operationally and financially, to navigate this global crisis.”

According to him, “one of the most extraordinary and testing periods” in the club’s history.

In April 2020, he admitted that United are not “immune” to the financial ramifications of the ongoing pandemic, although he says the club can remain “highly competitive” in the upcoming summer transfer window.

Fewer games have been played in the third financial quarter of 2020 due to the coronavirus crisis, with United making less money from broadcasting and matchday revenues.

“Manchester United is a resilient club and a resilient company,” Woodward says.

He added that “We’re well-positioned, both operationally and financially, to navigate this global crisis and we very much look forward to returning to play and building upon the strong on-pitch momentum we experienced up to mid-March when we stopped.”

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