Manchester United Q3 report: Reveals how much the coronavirus will cost in TV revenue
21 May 2020
Manchester United report a rare loss in their third quarter despite only 18 days of Covid-19 suspension revealing how big an impact the pandemic can have on Premier League clubs.
The club said they estimate the cost of the pandemic so far is £23 million - a figure made up of a broadcaster rebate plus the absence of matchday revenue and associated costs.
United have taken the unusual step of withdrawing previous revenue and EBITDA guidance.
Manchester United have felt the financial effects of the coronavirus crisis and their quarter results reveal the huge costs for Premier League clubs.
Executive vice-chairman Ed Woodward believes the club are resilient enough to cope with "one of the most extraordinary and testing periods" in their 142-year history.
Their Q3 results up until March 31 accounted for just 18 days of football’s suspension, but due to a massive drop in broadcast income of 52 per cent Man Utd recorded an overall loss of £3.3 million for the quarter.
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