Man Utd’s net debt increased by £95.4m in 2022 as £33.6m paid in dividends to shareholders

Manchester United released their latest financial statement on Thursday.

Manchester United have released their financial results for the 2022 fiscal year, which reveal the club’s net debt has increased by 22.7 %.

That means a jump from £419.5m to £514.9m, while the latest results detail that £33.6m worth of dividends were paid to shareholders.

The club also announced a net loss of £115.5m in 2021/22, despite revenues rising from 18 % to £583.2m

United claimed a cost of £64.6m in unrealised foreign exchange was partly to blame for the figures as well as the weakening of the pound.

Cliff Baty, Chief Financial Officer, said: “Our financial results for fiscal 2022 reflect a recovery from the pandemic, a full return of fans and new commercial partnerships offset by increased investment in the playing squad.

A £33.6m payment in dividends will increase anger towards the Glazers from United fans. Credit: Getty.

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“Our results have been adversely affected by the absence of a summer tour in July 2021, material exceptional and increased utility costs, and the impact of the weakening of sterling on our non-cash finance costs.

“Looking forward to fiscal 2023, the club is guiding to revenues of £580 million to £600 million despite participation in the Europa League, and adjusted EBITDA of £100 million to £110 million, reflecting the continued playing squad investment.”

The return of fans to matches, following two-Covid impacted campaigns, resulted in a 1456 % increase to £110.5m, while commercial revenue rose by 11 % to  £257.8m.

United’s earnings for the 2022/23 will also be impacted by a lack of Champions League football, but should be boosted by a summer tour to Australia and Asia.