As was always going to be the case considering the current circumstances, Manchester United’s latest financial results have shown that things have taken a bit of a dip.
According to Sky Sports, United recorded an overall loss of £3.3m between January 1 to March 31 of this year – a figure largely attributed to there being a 51.7% decrease in broadcast revenue.
However, it appears some United fans have taken solace in the fact that, comparatively speaking, the club still remains in a financially strong place given the situation.
Speaking after the announcement, the club’s executive vice-chairman Ed Woodward said: “Manchester United is a resilient club and a resilient company. We’re well-positioned, both operationally and financially, to navigate this global crisis and we very much look forward to returning to play and building upon the strong on-pitch momentum we experienced up to mid-March when we stopped.”
And after The Athletic journalist Laurie Whitwell revealed that cash reserves were at £90.3m, with access to an additional £150m under a revolving credit facility, fans of the Manchester side took to Twitter to voice their thoughts.
We move. pic.twitter.com/KvSjNuH3Tn
— ً (@utdrobbo) May 21, 2020
90 mill for sanch🔴 WE MOVE!! pic.twitter.com/0ymmkm1tKE
— Faaris (@faarismalik_) May 21, 2020
We’re actually massive
— Sam (@SamLui17) May 21, 2020
— 🇾🇪 (@GB7_99) May 21, 2020
Some United fans were quick to praise Woodward for his work, with one supporter suggesting that the whole financial element was his “territory” and that there is nobody better.
this is woodward’s territory and he’s the best at it, just needs to delegate the footballing decisions .
— Princemal (@princemalach) May 21, 2020
— OBIAGU🦁 (@Chuksunruly) May 21, 2020
Woodys done it again
— Luke (@Labile_Life) May 21, 2020
Don woodwood has done it pic.twitter.com/NuTYSqkiHN
— Utd Fortune V1 🔴 (like/follow limit) (@FortuneJrV1) May 21, 2020
He may come under fire from United fans for his perceived failures in the transfer market, but Woodward has certainly contributed to the club’s financial strength in recent years.
And with how events are unfolding across the world, it looks like the Manchester side could be one of the teams best placed to navigate the whole thing.