Manchester United‘s early exit from Europe could cost the club up to £45million.
Erik ten Hag’s side endured a disastrous Champions League campaign, finishing bottom of their group and therefore missing out on a place in the Europa League.
And, in latest financial figures, club officials have had to readjust their expectations for the year – lowering expected revenues from £635m to £665m from previous guidance of £650m to £680m.
The numbers, which show a loss of £25.8m for the period, will be of interest to incoming 25 per cent investor Sir Jim Ratcliffe, whose proposal is expected to be ratified in mid-February.
He will be buoyed by the fact first quarter revenues are up by 9 per cent year-on-year to £157.1m, which the club say ‘reflect strong economic foundations’.
Manchester United’s exit from the Champions League could cost them approximately £45million
It comes as Sir Jim Ratcliffe’s offer to purchase a 25 per cent stake in the club is expected to be ratified in mid-February
United crashed out of the Champions League late last year after finishing bottom of Group A
An indication of the underperformance of the first team squad, currently in seventh place in the Premier League, comes via employee expenses, which were up £90.3m thanks to higher wages and investment in players.
The club’s historic debt, which dates back to the Glazer family’s leveraged takeover and is viewed by many as a major, lingering stain, stood at £528.8m.
Documents lodged with the US Securities and Exchange Commission state that Ratcliffe’s offer would represent a 27.69 per cent ownership
Following the release of the figures, Ratcliffe’s tender offer was officially submitted to the market.
Documents lodged with the United States Securities and Exchange Commission showed the offer would represent a 27.69 per cent ownership interest and 28.71 per cent voting interest in United.
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