Man Utd announce record revenues – but club still £538m in debt under Glazers

Manchester United have announced record revenues of almost £650m for last season.

Revenues stood at £648.4m – but the club's debt remains at £538m. United's wage bill dropped by £52.8m to £331.4m – and it is thought hated owners the Glazers didn't take a dividend out of the club during the 2022-23 season.

But despite the financial update from United, there is still no news on the future of the club's ownership. Negotiations are on-going between United and Sir Jim Ratcliffe, who wants to purchase a 25% stake in the club for around £1.4billion.

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Commercial revenues exceeded £300m for the first time, but the club still recorded a £42.1m loss for 2022-23. In Erik ten Hag's first season as manager, United returned to the Champions League, finished third in the table and won the Carabao Cup – the club's first silverware since 2017.

However, while there was real positivity surrounding the club at the end of last season, there have been issues aplenty this term for ten Hag to have to deal with at Old Trafford. The summer transfer window was less than ideal, with United unable to shift players off their books in order to bring in reinforcements for ten Hag.

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Then there was the saga surrounding Mason Greenwood's prospective return to ten Hag's first-team squad which eventually went up in flames following mass backlash from United fans concerned about his return. Charges of coercive control and attempted rape were dropped against Greenwood, with United chief Richard Arnold attempting to re-introduce the one-time England international back into the fold at Old Trafford.

However, fans were left dismayed but the decision to bring him back into the first-team fold, with domestic violence charity Women's Aid even calling out the club for their stance on Greenwood. He was eventually shipped out on-loan to La Liga side Getafe and remains a United player.

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More controversy followed the Greenwood saga in the form of the drama surrounding ten Hag and winger Jadon Sancho. The pair had a public falling out in September, with ten Hag calling out Sancho's training standards in the wake of United's 3-1 defeat to Arsenal at the Emirates.

Unhappy with ten Hag's statement, Sancho then released one of his own, stating he had been scapegoated by the United boss and that he had trained well prior to the Arsenal game. As things stand, United look resigned to losing Sancho at a cut-rate price in January after spending £72m on the England winger back in 2021.

And now United are weighing up whether to accept Ratcliffe's bid to buy a 25 per cent stake too after Qatari businessman Sheikh Jassim pulled out of a deal that would have seen him become the outright owner of the club.

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