England’s record football champion Manchester United has already felt the first financial effects of the coronavirus pandemic.
In its quarterly report on Thursday, the traditional club Manchester United reported a pre-tax loss of 28.6 million pounds (around 31.9 million euros) for the first three months of 2020. Turnover during this period fell by 19 per cent to 123.7 million pounds (approximately 138 million euros).
The most critical loss item is the lack of TV income due to the interruption of match operations at the beginning of March. Compared to the previous quarter, the Red Devils received almost 50 per cent less (£26 million).
“Our third-quarter results released today partly reflect the impact of the pandemic on the club“, said CEO Ed Woodward, announcing that losses will increase again in the fourth quarter. “We still have tough challenges ahead of us“, he said, adding, “but we remain optimistic for the long term“. In the second quarter of the fiscal year, the club had made a profit of 11.1 million pounds (12.4 million euros).
The clubs in the English Premier League are expected to continue the league in June.