The power of good PR: United posted a loss of £2.5m the first 6 months, after profiting £48m on player sales.
But the club drummed a message about ”Operating profit” in every release and channel. Operating profit excludes costs for transfers, ie amortization. Operating profit also excluded financing costs — ie paying interest on the Glazer debt.
If anyone wanted to determine how United is performing financially — would you go: ’Hey, I want to know how Utd is doing if we exclude costs for transfers and debt? This will give us a complete picture!’
Of course not.
Look, United posted a better financial result than anyone expected. Mainly due to getting the same amount of revenue out of 10 home games as we did from 15 last season.
But the club is very far from being ”profitable”. The costs for transfers is £200+m per season. The interest cost is £40m per season. If we sell players for £40m per season — we still need to make an Operating profit of £200m to not be a loss making club.
FULHAM 1-1 MANCHESTER UNITED Match Reaction is now live on my YouTube!
WHAT THE HELL WAS THAT?
AMORIM NEEDS TO TAKE SOME BLAME!
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@markgoldbridge After all the talk about not being held to ransom not over paying not making the same mistakes and then to get owned like the old hierarchy great negotiating UTD 👏🏼👏🏼👏🏼