Manchester United have announced a whopping loss of £70m in annual revenue due to the effects of the coronavirus pandemic.
As reported by Sky Sports, United’s revenue shrank by almost 20 per cent in the year ending June 2020 compared to the previous financial year as the impact of the pandemic affected the club on a number of fronts.
The club posted total revenue of £509m for 2019/20, compared to record revenues of £627.1m in 2018/19, representing a drop of 18.8 per cent.
Revenue had been projected to drop to between £560m and £580m this year because of the club not being involved in the Champions League, but they withdrew the forecast figure when they published their third-quarter results in May because of the impact of the pandemic.
The Red Devils will be hoping for a change in fortunes now that they are back in the Champions and have started their campaign in the group phase with an away win over PSG in Paris.