Manchester United chief executive Omar Berrada vowed to prioritize financial stability after the club announced worrying losses for the 2023/24 season despite record income. The Red Devils announced a loss of £113.2 million-their fifth successive year without a profit. Their combined losses over the past three years have reached £254.7 million, which has raised suspicions of potential breaches of both the Premier League’s Profit & Sustainability Rules and UEFA’s Financial Fair Play regulations.
In the statement accompanying the financial report, Berrada stressed compliance as key for the club but highlighted efforts to strengthen both the men’s and women’s teams. “We have strengthened our men’s squad with five exciting players and restructured football leadership, appointing Dan Ashworth as sporting director and Jason Wilcox as technical director,” said Berrada.
He pointed to investments in training facilities at the renovated Carrington and the two-year extension of Manchester United’s partnership with Snapdragon.
Berrada, the new CEO, added that what counts for the club is sustained success.
“We are working towards greater financial sustainability by making our operations more efficient, ensuring that resources are directed to improve on-pitch performance,” he said.
The club is committed to its ambition of attaining success once more in European football through clear planning for the benefit of fans, shareholders, and stakeholders alike.
