Manchester United recorded a significant increase in debt and revenue-halved in early 2020 | Right away
Manchester United on Thursday announced its quarterly results for the first three months of 2020. This shows that the Premier League club’s debts have risen significantly and sales and profits have fallen.
Manchester United’s debt rose to more than €477 million in the first quarter of 2020. That’s 42 percent more than a year earlier.
United also makes less in terms of revenue and profit. The English club reported a 19 per cent drop in sales to 137.6 million euros. That’s mainly because Manchester United are not playing in the Champions League this season, but in the Europa League.
The club’s profit also fell by 32 percent to just over 31 million euros. Commercial revenues, such as sponsorship revenue and the sale of shirts, rose.
Manchester United are being hit hard by the Corona crisis as the club does not play games, the numbers are much less rosy than previously hoped. United have therefore decided to scrap its financial targets for this year.
Max Taylor, who has testicular cancer, has extended his contract at United. (Photo by Getty Images)
United extend contract with healed Taylor
There is also positive news from Manchester as United have extended Max Taylor’s contract. The defender, who has been suffering from testicular cancer for less than a year, is now in custody until mid-2021.
The 20-year-old Taylor underwent chemotherapy in 2018 and was given the green light by medical staff in September last year to resume training at United. He made his debut in the group stage of the Europa League at the end of November with FC Astana.