UNITED are confident of staying within the Premier League’s financial rules despite their Champions League exit costing them at least £25million in revenue – but they will consider sales in January if any deal helps ease their Financial Fair Play (FFP) concerns and doesn’t unduly weaken Erik ten Hag’s squad.
United were already hamstrung by financial regulations imposed by UEFA and the Premier League before their early exit from European competition, with the league’s Profit and Sustainability (P&S) rules the most concerning for the rest of this season.
The Premier League have bared their teeth with a 10-point deduction for Everton for failing P&S rules and United’s accounts for 2023/24 will make up a three-year monitoring period that will see whether they fall within the league’s allowed loss limit.
That stands at £105million across three years, although £90million of that must be made up by equity contributions from the owners.
United believe their revolving credit facility could act as equity, although that would be dependent on the Premier League’s interpretation and they are likely to look more favourably on pure equity being invested from owners, which United don’t have under the stewardship of the Glazers.
United’s accounts for 2021/22 showed a loss of £150million and last year’s accounts a further £33million, which looks problematic for coming in below the £15million across three years. But the Premier League allow for Covid adjustments from lost revenue, which would affect the 2021/22 accounts, as well as spending on the academy, women’s team and community investment.
This story is from the December 17, 2023 edition of MEN on Sunday.
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This story is from the December 17, 2023 edition of MEN on Sunday.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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