Manchester United make £3.3m financial loss in third quarter of 2020

Manchester United have made a financial loss of £3.3m as Ed Woodward revealed the club’s third-quarter figures on Thursday, with total revenues down by 18.7 per cent to £123.7m.

Executive vice chairman Ed Woodward last month conceded that United are not “immune” to the financial ramifications of the coronavirus crisis, although said the club can remain “highly competitive” in the upcoming summer transfer window.

Fewer games have been played in this financial quarter due to the ongoing pandemic, with United making less money from broadcasting and matchday revenues.

Their last match came on March 12 with a 5-0 behind-closed-doors win over LASK in the Europa League, while Premier League clubs have stepped up preparations for a return to action with players back to team training.

Speaking on Thursday, Woodward said: “Our focus remains on the health and well-being of our colleagues, fans and partners around the world and we are extremely proud of how those connected to the club have responded during this crisis.

“Since the start of the pandemic, Manchester United and our Foundation have provided assistance to hospitals, charities and schools in our communities, as well as support for frontline workers and vulnerable fans.

“These actions reflect our core values as a club and the resilience through adversity that we have demonstrated many times throughout our long history and will do so again to weather these current challenges.

“In that spirit, we look forward to the team safely returning to the pitch and building on the exciting momentum that Ole and the players had previously achieved, while taking all necessary steps to protect public health.

“Our thoughts remain with all those affected during this unprecedented time.”

(c) Sky Sports 2020: Manchester United make £3.3m financial loss in third quarter of 2020