Manchester United post net losses of £113.2 million
The club believes it's still compliant with Premier League financial rules
Manchester United have posted net losses of £113.2million in their latest accounts, but are understood to believe they are compliant with Premier League financial rules.
The Red Devils' latest losses for the year ending June 30 follows a £115.5m loss in 2021-22 and a £42.1m loss in 2022-23.
The Premier League's profitability and sustainability rules (PSR) allow a maximum loss of £105million over a three-season period, but within that certain losses are deemed 'allowable' such as infrastructure, youth team and women's team spending.
United sources concede the losses are in part due to transfer and wage spending over the period, but say the club are committed to the PSR and compliant with them.
Everton and Nottingham Forest both incurred points deductions last season after being found in breach of PSR.
Included in United's newly-reported losses were costs of £47.8m linked to the strategic review embarked upon by the club's owners, the Glazer family, in November 2022 which ultimately resulted in Sir Jim Ratcliffe acquiring a 27.7 per cent stake in the club.
The club earned £661.8million in revenue, a United record.