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Manchester United quarterly revenue tumbles as ticket sales suffer

By Reuters 13m in the past

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MANCHESTER – Manchester United mentioned late on Thursday its first-quarter revenue fell almost 20%, as it continued to lose out on ticket sales from followers unable to attend matches because of the coronavirus disaster.

The outcomes had been anticipated on Friday, however the firm mentioned the assertion was launched a day prematurely as a consequence of an error by the publishers of its filings.

The pandemic has performed havoc with the sporting calendar, forcing the suspension of English Premier League fixtures for 3 months, with followers nonetheless unable to attend matches.

United has didn’t win at residence within the league this season and had urged the federal government final month to permit followers again into stadiums, including it will possibly safely host 23,500 followers at Old Trafford whereas sustaining social distancing.

It stays unsure whether or not followers can be welcomed again any time quickly after England imposed a one-month lockdown this month.

Manchester United’s Executive Vice Chairman Ed Woodward mentioned on Thursday the well being disaster continued to trigger “significant disruption”, however was optimistic {that a} recovery part was steadily coming into view.

Manchester United mentioned taking part in matches behind closed doorways and cancellation of the pre-season tour hit revenue, which was partly offset by increased broadcasting revenue in comparison with the final quarter. Photo: Reuters

The outcomes come at a time when membership supervisor Ole Gunnar Solskjaer’s future was questioned after a shock 2-1 defeat to Istanbul Basaksehir within the Champions League final week, however these issues had been eased following the win at Everton.

“We remain absolutely committed to the positive path we are on under Ole as the team continues to develop,” Woodward mentioned.

The membership mentioned taking part in matches behind closed doorways and cancellation of the pre-season tour hit revenue, which was partly offset by increased broadcasting revenue in comparison with the final quarter.

Matchday revenue slumped 92.3% to £1.7 million ($2.23 million), whereas broadcasting revenue jumped 44.7% to £47.6 million.

The firm mentioned quarterly loss was £30.3 million and revenue was £109 million.

Reuters



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