Manchester United admit club at risk of failing FFP if losses continue
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The Club have lost £305m over the last three years. Manchester United have admitted they are at risk of failing Financial Fair Play if they carry on losing money. United told a supporters’ group that further ticket price rises could follow as they bid to improve their financial position and seek to avoid breaking Profitability and Sustainability Rules.
United lost £113m in the last financial year and £305m over three years while new co-owner Sir Jim Ratcliffe has come under fire for putting some tickets at Old Trafford up to £66. While United anticipate their revenue for the current year will be between £650m and £670m, they committed over £600m to transfers in former manager Erik ten Hag’s reign and are struggling to afford January signings for new manager Ruben Amorim. They have also made around 250 staff redundant in a cost-cutting measure and looked to save money in various other ways, including ending Sir Alex Ferguson’s £2m-a-year ambassadorial contract.
In a letter to The 1958, they said: “We are determined to ensure that our current fans can continue to afford to attend games and that tickets are accessible for future generations of fans. “As previously communicated, we are however currently making a significant loss each year – totalling over £300 million in the past three years. This is not sustainable and if we do not act now we are in danger of failing to comply with PSR/FFP [financial fair play] requirements in future years and significantly impacting our ability to compete on the pitch.
