Manchester United’s wage bill skyrocketed by 23% during the period in which they re-signed Cristiano Ronaldo, the club’s latest set of financial results showed on Wednesday. Figures for the first quarter of the 2021-22 financial year show a rise of £16.6million in “employee benefit expenses”.
In the transfer window this season, Manchester United loaned out a few young players and sold Daniel James this summer. The Red Devils bought some big names with the likes of Cristiano Ronaldo, Jadon Sancho, and Raphael Varane.
With the crowds back in the stadium, Manchester United’s matchday revenues jumped to 18.8 million pounds. Total revenue rose 16% to 126.5 million pounds. Overall, total revenue increased by 16.1 percent to £126.5m, explained largely by the obvious increase in matchday income. Matchday revenue was £18.8m compared to just £1.7m the previous year when games were played behind closed doors.
However, the official numbers from other top clubs in the Premier League are unknown. But, it can be estimated that Manchester United do have one of the highest wage caps in England this season. This rise helped operating losses decrease from £27.1m to £10.2m compared to 2020-21.
United’s executive vice-chairman Ed Woodward said: “While these financial results today demonstrate our resilience through the pandemic. Our top priority is success on the pitch. The manager, players, and everyone at the club are determined to achieve that objective.”