REVEALED: Manchester United’s wage bill rockets to £354MILLION per year, as summer signings Cristiano Ronaldo, Raphael Varane and Jadon Sancho are credited with a 23.1% increase on last year’s figures
- Manchester United have released their finances for the first quarter of the year
- They reveal that the club’s wage budget has increased dramatically on last term
- Cristiano Ronaldo, Raphael Varane and Jadon Sancho have all added to the bill
Manchester United have increased their wage bill by nearly a quarter, their latest financial reports have revealed.
The playing staff budget has increased to the £354million a year, thanks to the addition of some big hitters at Old Trafford – as evidenced by the first quarter sum of £88.5m.
Cristiano Ronaldo, Jadon Sancho and Raphael Varane all arrived in the summer, with their presence playing a huge role in the 23.1 per cent jump in wages.
The additions of Jadon Sancho and Cristiano Ronaldo have seen Man United’s wage bill rocket
The club’s revenue for the quarter increased in total, up from £109m in 2020 to £126.5m, with the club enjoying a boost from the return of fans to home matches.
That has helped increase their commercial earnings by eight per cent, but broadcast income has been hit with domestic matches no longer guaranteed to be on television as was the case during the pandemic.
United also saw a boost in their transfer earnings, as they made £17.4m, largely thanks to the sale of Daniel James to Leeds and the sell-on clause triggered by Romelu Lukaku’s transfer from Inter to Chelsea.
The total fees payable for the Ronaldo, Sancho and Varane add up to £127m, but those fees will be split over a number of seasons, hence the current profit. United’s net debt still stands at £439million.
Speaking on the club’s financial report, executive vice-chairman Ed Woodward said: ‘While these financial results today demonstrate our resilience through the pandemic, our top priority is success on the pitch.
‘The manager, players and everyone at the club are determined to achieve that objective.’
Ed Woodward insists Manchester United’s focus remains delivering success on the pitch
United boss Ole Gunnar Solskjaer has found himself under pressure this term as he looks to land his first silverware with the club since taking charge in 2018.
United have sought to back their manager by insisting their are no immediate plans to replace him this season, despite a series of disappointing results.
Solskjaer’s side currently sit sixth in the Premier League table, nine points behind leaders Chelsea.
They have already been knocked out of the Carabao Cup by West Ham, but do sit top of their UEFA Champions League group with two matches still remaining.
Share this article
Source: Read Full Article