Simon Stone @sistoney67
Man Utd say the 'rationalisation' of their staff by 250 will "realize annualized cost savings of approximately £40 million to £45 million, before implementation costs of £10 million. Due to timing and other contractual obligations, the club expects to realize these savings over fiscal years 2025 and 2026".
Quite a hefty loss that, don’t think we’ve ever seen it that high before. Good news we’ve broken a record for increased revenue though.
This is the sixth time in seven years the club has recorded a loss in their accounts.
Follows £28.7m loss in 2022/23 and £115.m in 2021/22.
I stand corrected, we made a bigger loss in 2022.
Well aslong as the revenues increase, I'm sure the Glazers won't mind us finishing 8th again!
Debt is the road to ruin. Glazers out.
Sadly doesn't look like any debt will be paid off any time soon either given the talks of a new 2bn stadium. It's only going to get worse.
Might end watching Salford every week when we go bust. 😂
comment by Sydney Sweeney (U11781)
posted 25 minutes ago
Simon Stone @sistoney67
Man Utd say the 'rationalisation' of their staff by 250 will "realize annualized cost savings of approximately £40 million to £45 million, before implementation costs of £10 million. Due to timing and other contractual obligations, the club expects to realize these savings over fiscal years 2025 and 2026".
----------------------------------------------------------------------
That implies an average wage of £180k for each of the 250 members of staff made redundant.
That may be skewed by the odd very highly paid individual but not sure how accurate that can be. The bulk of staff at clubs are pretty mid-low earners.
The club will pay for the damage Ed and the Glazers have done to the club for a few more years yet.
comment by Vidicschin (U3584)
posted 12 minutes ago
The club will pay for the damage Ed and the Glazers have done to the club for a few more years yet.
----------------------------------------------------------------------
Agreed.
Don't forget the PL too. They are hugely culpable in all this. They should never have allowed the leveraged buyout to start with. They should have told the Glazers to cough up their own money or load the debt onto themselves or we aren't agreeing to the deal.
The brown stuff was always going to hit the fan post Fergie.
Man Utd wage bill has risen 10% to £364.7m for last season - still below Man City, Chelsea and Liverpool's for 2022/23
"The results aren't good but we're making moves to rectify them" said Sir Jim "Now, let's see those financials"
Since Manchester United was acquired in 2005 the Club has made cumulative pre-tax losses of £483m and paid net interest costs on loans of £969 million.
https://x.com/kieranmaguire/status/1833838033268851127?s=46&t=bPTrpdgNggCdz9igvhmVyw
One-off exceptional costs of £47.8m related to the strategic review.
========================
wtf is that?
comment by Boris 'Inky’ Gibson (U5901)
posted 9 minutes ago
One-off exceptional costs of £47.8m related to the strategic review.
========================
wtf is that?
----------------------------------------------------------------------
A not to be repeated cost, coming in at less than £50m, linked to a game plan evaluation but that's not important right now.
comment by Boris 'Inky’ Gibson (U5901)
posted 36 minutes ago
One-off exceptional costs of £47.8m related to the strategic review.
========================
wtf is that?
----------------------------------------------------------------------
Payment to the Raine Group for brokering the SJR investment?
comment by Barf Vader (U15867)
posted 2 hours, 47 minutes ago
comment by Boris 'Inky’ Gibson (U5901)
posted 36 minutes ago
One-off exceptional costs of £47.8m related to the strategic review.
========================
wtf is that?
----------------------------------------------------------------------
Payment to the Raine Group for brokering the SJR investment?
----------------------------------------------------------------------
More to the Glazers wasn’t it?
comment by Tyranny of the majority (SE85) (U21241)
posted 8 hours, 18 minutes ago
Debt is the road to ruin. Glazers out.
Sadly doesn't look like any debt will be paid off any time soon either given the talks of a new 2bn stadium. It's only going to get worse.
Might end watching Salford every week when we go bust. 😂
----------------------------------------------------------------------
2bn in manchester? buy half the city for that no?
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posted on 11/9/24
Simon Stone @sistoney67
Man Utd say the 'rationalisation' of their staff by 250 will "realize annualized cost savings of approximately £40 million to £45 million, before implementation costs of £10 million. Due to timing and other contractual obligations, the club expects to realize these savings over fiscal years 2025 and 2026".
posted on 11/9/24
Quite a hefty loss that, don’t think we’ve ever seen it that high before. Good news we’ve broken a record for increased revenue though.
posted on 11/9/24
This is the sixth time in seven years the club has recorded a loss in their accounts.
posted on 11/9/24
Follows £28.7m loss in 2022/23 and £115.m in 2021/22.
I stand corrected, we made a bigger loss in 2022.
posted on 11/9/24
Well aslong as the revenues increase, I'm sure the Glazers won't mind us finishing 8th again!
posted on 11/9/24
Debt is the road to ruin. Glazers out.
Sadly doesn't look like any debt will be paid off any time soon either given the talks of a new 2bn stadium. It's only going to get worse.
Might end watching Salford every week when we go bust. 😂
posted on 11/9/24
comment by Sydney Sweeney (U11781)
posted 25 minutes ago
Simon Stone @sistoney67
Man Utd say the 'rationalisation' of their staff by 250 will "realize annualized cost savings of approximately £40 million to £45 million, before implementation costs of £10 million. Due to timing and other contractual obligations, the club expects to realize these savings over fiscal years 2025 and 2026".
----------------------------------------------------------------------
That implies an average wage of £180k for each of the 250 members of staff made redundant.
That may be skewed by the odd very highly paid individual but not sure how accurate that can be. The bulk of staff at clubs are pretty mid-low earners.
posted on 11/9/24
The club will pay for the damage Ed and the Glazers have done to the club for a few more years yet.
posted on 11/9/24
comment by Vidicschin (U3584)
posted 12 minutes ago
The club will pay for the damage Ed and the Glazers have done to the club for a few more years yet.
----------------------------------------------------------------------
Agreed.
Don't forget the PL too. They are hugely culpable in all this. They should never have allowed the leveraged buyout to start with. They should have told the Glazers to cough up their own money or load the debt onto themselves or we aren't agreeing to the deal.
The brown stuff was always going to hit the fan post Fergie.
posted on 11/9/24
Man Utd wage bill has risen 10% to £364.7m for last season - still below Man City, Chelsea and Liverpool's for 2022/23
posted on 11/9/24
"The results aren't good but we're making moves to rectify them" said Sir Jim "Now, let's see those financials"
posted on 11/9/24
Since Manchester United was acquired in 2005 the Club has made cumulative pre-tax losses of £483m and paid net interest costs on loans of £969 million.
https://x.com/kieranmaguire/status/1833838033268851127?s=46&t=bPTrpdgNggCdz9igvhmVyw
posted on 11/9/24
One-off exceptional costs of £47.8m related to the strategic review.
========================
wtf is that?
posted on 11/9/24
comment by Boris 'Inky’ Gibson (U5901)
posted 9 minutes ago
One-off exceptional costs of £47.8m related to the strategic review.
========================
wtf is that?
----------------------------------------------------------------------
A not to be repeated cost, coming in at less than £50m, linked to a game plan evaluation but that's not important right now.
posted on 11/9/24
comment by Boris 'Inky’ Gibson (U5901)
posted 36 minutes ago
One-off exceptional costs of £47.8m related to the strategic review.
========================
wtf is that?
----------------------------------------------------------------------
Payment to the Raine Group for brokering the SJR investment?
posted on 11/9/24
comment by Barf Vader (U15867)
posted 2 hours, 47 minutes ago
comment by Boris 'Inky’ Gibson (U5901)
posted 36 minutes ago
One-off exceptional costs of £47.8m related to the strategic review.
========================
wtf is that?
----------------------------------------------------------------------
Payment to the Raine Group for brokering the SJR investment?
----------------------------------------------------------------------
More to the Glazers wasn’t it?
posted on 11/9/24
comment by Tyranny of the majority (SE85) (U21241)
posted 8 hours, 18 minutes ago
Debt is the road to ruin. Glazers out.
Sadly doesn't look like any debt will be paid off any time soon either given the talks of a new 2bn stadium. It's only going to get worse.
Might end watching Salford every week when we go bust. 😂
----------------------------------------------------------------------
2bn in manchester? buy half the city for that no?
Page 1 of 1