- Manchester United is expected to post financial losses of over $125 million this year due to the impact of the coronavirus.
- According to ESPN, the club has taken major losses due to the absence of fans at Old Trafford and the cancellation of its pre-season tour.
- United also owes Premier League broadcasters a rebate of $25 million due to schedule disruptions caused by the virus.
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English Premier League side Manchester United is expected to post financial losses of over $125 million this year due to the impact of the coronavirus pandemic, reports ESPN.
The club is understood to have lost around $6 million each time it has played a match at Old Trafford behind closed doors, amounting to a total of deficit of $57 million.
More losses are expected to follow after the UK government reversed its decision to begin allowing fans back into stadiums as of October.
United also owes Premier League broadcasters a rebate of at least $25 million due to schedule disruptions caused by the pandemic, according to ESPN. It has also taken large losses on the sale of season tickets and the cancellation of its pre-season tour this summer.
The club’s running total of losses over the last six months already exceed $95 million, and is likely to top $125 million by the time it publishes its year-end accounts in October.
ESPN reports that the financial hardships are largely behind United’s caution in the summer transfer window, with the club having signed only midfielder Donny van de Beek from Ajax for $51 million.
It is, however, also pursuing Borussia Dortmund’s Jadon Sancho, and according to the Daily Mirror has made a $115 million offer for him.
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