Manchester United lose staggering £70m in revenue owing to deadly coronavirus

Manchester United lose staggering £70m in revenue owing to deadly coronavirus

Manchester United have lost a whooping £70 million in revenue due to the deadly coronavirus outbreak in just three months.

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The infection was declared a pandemic earlier with all football activities initially suspended before normalcy returned in June.

Although the Red Devils are not the only team badly hit by the virus, the club's chiefs are heavily lamenting after counting their losses.

United vice-chairman Ed Woodward explained that the Old Trafford outfit suffered a 'significant economic ramifications of the pandemic'. He added:

“Within that context, our top priority is to get fans back into the stadium safely and as soon as possible.”

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The 48-year-old football administrator further added in regards to the anger with the Red Devils' involvement in drafting the proposals of the European Super League. He said:

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“We are also committed to playing a constructive role in helping the wider football pyramid through this period of adversity, while exploring options for making the English game stronger and more sustainable in the long-term.
“This requires strategic vision and leadership from all stakeholders, and we look forward to helping drive forward that process in a timely manner.”

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The latest financial figures, up to the end of June, lay bare the cost of the virus after United took up a £140m loan from Bank of America in May.

Manchester United lose staggering £70m in revenue owing to deadly coronavirus
Manchester United vice-chairman Ed Woodward watching the club take on Crystal Palace. Photo by Richard Heathcote.
Source: Getty Images

United also paid the price for being out of the Champions League last term, with their total broadcast revenues for the year to the end of June down more than £100m, from £241.2m to £140.2m.

Legit.ng earlier reported that Premier League giants Liverpool and Manchester United are planning to be a part of the new FIFA initiative.

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Both clubs might be thinking of joining other top European outfits for the European Premier League scheduled to kick off in 2022.

The world football governing body already has about $6 billion [£4.6 billion] fund to start up the project two years from now.

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