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MANCHESTER UNITED HAVE POSTED net losses of £113.2million in their latest accounts but insist they are compliant with Premier League financial rules.
United sources concede the losses are in part due to transfer and wage spending over the period, but a club release alongside the results said: “The club remains committed to, and in compliance with, both the Premier League’s Profit and Sustainability Rules and UEFA’s Financial Fair Play Regulations.”
The club are working to put themselves on a more sustainable financial footing and have instigated a number of cost-saving measures, including a redundancy programme which cut 250 jobs from headcount across all departments by the end of August. The club anticipate severance charges related to the redundancies will cost around £10m.
Chief executive Omar Berrada said: “We are working towards greater financial sustainability and making changes to our operations to make them more efficient, to ensure we are directing our resources to enhancing on-pitch performance.
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