Manchester United have announced losses of 3.7 million euros in the first quarter of 2020 as a result of the coronavirus crisis.
The Premier League club have received an income of 26 million pounds, which is 51.7 percent down compared to their profit in the same period last year.
With the league suspended since March 13, their losses are down mainly due to the lack of income from TV rights.
The Premier League are planning to return to action in mid-June and failing to do so would cost them around one billion pounds.
“[These results are] primarily due to an estimated 15m pounds Premier League rebate due to broadcasters, following delay and broadcast schedule changes to the 2019/20 football season, non-participation in the UEFA Champions League, and the impact of playing two fewer Premier League away games,” read the club’s statement.
Meanwhile, the club’s executive director, Ed Woodward, stressed that, despite the poor financial outcome, he expects the club to return to normal.
“Since the start of the pandemic, Manchester United and our Foundation have provided assistance to hospitals, charities and schools in our communities, as well as support for frontline workers and vulnerable fans,” he noted.
“These actions reflect our core values as a club and the resilience through adversity that we have demonstrated many times throughout our long history and will do so again to weather these current challenges.”
SOURCE:-allfootballapp
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