Manchester United's wage bill soars AGAIN to £479m despite their Champions League failure… but latest financial figures show Glazers haven't taken a dividend as Sir Jim Ratcliffe pays in £156m
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Manchester United's wage bill soars AGAIN to £479m despite their Champions League failure… but latest financial figures show Glazers haven't taken a dividend as Sir Jim Ratcliffe pays in £156m

Mar 24, 2024
  • United have the largest wage bill in the Premier League – and it has risen again 
  • Staff costs also increased as a result of their return to the Champions League 
  • CHRIS SUTTON: Harry Kane is a serial DIVER, he’s the worst I’ve ever seen – Listen to the It’s All Kicking Off podcast 

Manchester United‘s wage bill – last year the highest in the Premier League – has risen again.

The club’s latest financial figures show they remain on course to break annual revenue records but also that staff costs have increased, thanks largely to the club’s participation in the Champions League.

No dividends were paid to majority owners the Glazer family, with Mail Sport understanding such transactions are unlikely to take place in future.

United’s wage bill last season totalled a vast £384.1m. For the latest reporting period staff costs were up by £95.1m, thanks mainly to the club being in UEFA’s top competition rather than the Europa League.

Last year, United reported club record revenues of £648.4m but still made a loss of £42.1m. They are predicting to break that figure again, with between £635m and £665m expected.

Manchester United's wage bill - the Premier League's largest - rose again to £479m

Manchester United’s wage bill – the Premier League’s largest – rose again to £479m

Jim Ratcliffe paid £1.3billion for a 27.7 per cent stake in United and control of the football side

Jim Ratcliffe paid £1.3billion for a 27.7 per cent stake in United and control of the football side

United crashed out of the Champions League - and Europe entirely - following the group stage

United crashed out of the Champions League – and Europe entirely – following the group stage

The Glazers, who remain United's majority owners, didn't take a dividend out of the club

The Glazers, who remain United’s majority owners, didn’t take a dividend out of the club

The figures also show that £156m was paid into club’s coffers following the completion of Sir Jim Ratcliffe and his INEOS group’s 25 per cent stake at Old Trafford.

Cliff Baty, United’s chief financial officer, said: ‘We delivered strong revenues during the first half of the fiscal year and have reiterated our guidance for record revenues for the full fiscal year. 

‘This is an exciting time at Manchester United following the completion of Sir Jim Ratcliffe’s investment, and we are all focused on working together with our new co-owners to drive the club forward and deliver success on the pitch.’

Commercial revenue was down £6.9m, while sponsorship revenue also dropped 22 per cent. Retail grew 15.2 per cent thanks to the extension of United’s deal with adidas and the performance of its megastore.

Around £9.6m was paid in transaction fees related to the INEOS investment. United’s historic debt, relating to the Glazers’ leveraged buyout, remains at £508.1m. 

Net debt, including a credit revolving facility, stood at £710m.



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