Manchester United have announced record Premier League revenues of £648.4 million for the 2022-23 campaign.
This figure tops the £627m they generated in 2018-19 when they last played in the Champions League before 2023-24.
Their wage bill went down by £52.8m after £331.4m was spent on player salaries due to automatic pay cuts and reductions incurred following their failure to qualify for the 2022-23 Champions League.
However, Man United suffered a loss of £28.7m (down from £115.5m in 2021-22) despite their record revenue.
Commercial revenues (£302.9m) for the season also topped £300m for the first time after seeing a 17.5% increase (£45.1m) from 2021-22.
However, their long-term debt remains unchanged at $650m (£537m), with the Glazers deciding not to take a dividend out of the club for the campaign.
£33.6m had been paid for the financial year ending June 30, 2022, but no dividend has been paid to any of the six siblings since then.
Man United are hoping revenues for 2023-24 will hit between £650m and £680m, and the return of Champions League football to Old Trafford is expected to help boost their finances.
Their commercial and matchday revenue in 2022-23 played key roles in the record revenue yielded for the season, and the Red Devils are expecting similar figures in 2023-24 having agreed a new 10-year kit deal with adidas and shirt sponsorship with Snapdragon.
On the flip side, the Old Trafford club have made a cumulative loss before tax (excluding dividends) of £352m under the Glazers, the highest since they took over in 2005.
Fans will hope Sir Jim Ratcliffe can fully acquire the club in the future if a partial takeover, which would see him own 25% shares, goes through.
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