RELEASED: Manchester United’s salary costs rise to £ 354MILLION a year as summer signings Cristiano Ronaldo, Raphael Varane and Jadon Sancho are credited with a 23.1% increase over last year’s figures.
- Manchester United have announced their finances for the first quarter of the year
- They reveal that the club’s salary budget has increased dramatically in the last election period
- Cristiano Ronaldo, Raphael Varane and Jadon Sancho have all added the bill
Manchester United have increased their salary costs by almost a quarter, their latest financial reports have revealed.
The gaming staff’s budget has increased to £ 354 million a year, thanks to the addition of some great players at Old Trafford – as evidenced by the first quarter amount of £ 88.5 million.
Cristiano Ronaldo, Jadon Sancho and Raphael Varane all arrived in the summer, with their presence playing a major role in the 23.1 percent pay rise.
The additions of Jadon Sancho and Cristiano Ronaldo have seen Man United’s salary spending 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 fans returning to home games.
It has helped increase their commercial earnings by eight percent, but broadcast revenues have been hit by domestic battles that are no longer guaranteed to be on TV, as was the case during the pandemic.
United also saw a boost in their transfer earnings as they earned £ 17.4m, mainly thanks to the sale of Daniel James to Leeds and the resale clause triggered by Romelu Lukaku’s transfer from Inter to Chelsea.
The total fees to be paid for Ronaldo, Sancho and Varane total up to £ 127 million, but these fees will be split over a number of seasons, hence the current profits. United’s net debt is still at £ 439 million.
Speaking about the club’s financial report, Vice President Ed Woodward said: “While these financial results today demonstrate our resilience through the pandemic, our top priority is success on the pitch.
“The manager, the players and everyone in the club are determined to achieve this goal.”
Ed Woodward insists Manchester United’s focus remains on delivering success on the pitch
United boss Ole Gunnar Solskjær has been under pressure during this period, as he seems to be landing his first silverware at the club since the takeover in 2018.
United have sought to support their manager by insisting they have no immediate plans to replace him this season, despite a number of disappointing results.
Solskjær’s team is currently in sixth place in the Premier League table, nine points behind leading Chelsea.
They have already been knocked out of the Carabao Cup by West Ham, but are at the top of their UEFA Champions League group with two matches left.