Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MANCHESTER UNITED PLC

(MANU)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Pandemic inflicts off-pitch losses on soccer giants Man Utd, Juventus

09/17/2021 | 10:03am EDT
FILE PHOTO: Serie A - Juventus v Parma

(Reuters) -England's Manchester United and Italy's Juventus, Cristiano Ronaldo's current and former teams, both suffered hefty financial losses for 2020-21 as the coronavirus crisis drained European soccer stadiums of fans.

While Executive Vice Chairman Ed Woodward expressed confidence in United's recovery as Old Trafford hosts capacity crowds for the first time in almost 18 months, Juventus said it would also end its 2021-22 financial year, which will still be heavily affected by the pandemic, with a "significant loss".

Woodward, who in April said he will step down at the end of the year, reflected on the difficult environment in which even the biggest clubs operate.

"While we are confident in our relative strength, it remains clear that football as a whole faces major financial challenges caused by years of material inflation in wages and transfer fees, exacerbated by the impact of the pandemic," he said on a conference call with analysts and investors.

United expects its wages to go up 20% this year after it bolstered the squad further by signing French World Cup winner Raphael Varane and England winger Jadon Sancho.

The Manchester club, which signed five-time Ballon d'Or winner Ronaldo from Italy's Juventus last month, posted a net loss for the year ended June 30 of 92.2 million pounds ($127 million), compared with a loss of 23.2 million pounds a year ago. The figure was inflated by a one-off tax hit.

Ronaldo, 36, made an immediate impact on his Premier League return with two goals against Newcastle United.

Meanwhile, Juventus saw its annual loss more than double to a record 209.9 million euros in a season when the team relinquished its grip on the Serie A title.

United, owned by the America-based Glazer family, and Juventus both attracted heavy criticism from fans and regulators for their involvement in the now-failed breakaway European Super League project earlier this year.

Shares in United, which did not provide full-year financial guidance due to COVID-19 uncertainty, reversed pre-market losses to trade up 1.5% on the New York Stock Exchange.

($1 = 0.7248 pounds)

(Reporting by Chris Peters and Aby Jose Koilparambil in Bengaluru, Simon Evans in London and Elvira Pollina in Milan; Editing by Keith Weir, Toby Davis and Alexander Smith)

By Aby Jose Koilparambil and Chris Peters


ę Reuters 2021
All news about MANCHESTER UNITED PLC
10/16MANCHESTER UNITED : Leicester edge United in goal fest; Liverpool thrash Watford
AQ
10/13MANCHESTER UNITED : Ronaldo And Messi - Increasing The Brand Values Of Their New Clubs
AQ
10/09MANCHESTER UNITED : Watch as Marcus Rashford receives degree from University of Manchester
AQ
10/07MANCHESTER UNITED : UNDERWRITING AGREEMENT (Form 6-K)
PU
10/06AFTER HOURS WATCH LIST SCORECARD : Pltr, manu, palt
MT
10/06Consumer Stocks Set to Finish Higher in Late Market Reversal
MT
10/06Stocks Decline But Still Outperform Most Other Sectors
MT
10/06Wall Street Tumbles Pre-Bell; Oil Prices, Bond Yields Weigh on Sentiment
MT
10/06Top Premarket Decliners
MT
10/05MT NEWSWIRES AFTER HOURS WATCH LIST : Pltr, manu, palt
MT
More news
Analyst Recommendations on MANCHESTER UNITED PLC
More recommendations
Financials
Sales 2022 603 M 829 M 829 M
Net income 2022 -34,3 M -47,2 M -47,2 M
Net Debt 2022 349 M 480 M 480 M
P/E ratio 2022 -56,8x
Yield 2022 1,43%
Capitalization 1 969 M 2 707 M 2 708 M
EV / Sales 2022 3,84x
EV / Sales 2023 3,48x
Nbr of Employees 983
Free-Float 24,1%
Chart MANCHESTER UNITED PLC
Duration : Period :
Manchester United plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends MANCHESTER UNITED PLC
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 3
Last Close Price 1 208,09 GBX
Average target price 1 461,63 GBX
Spread / Average Target 21,0%
EPS Revisions
Managers and Directors
Richard Neil Arnold Group Managing Director & Director
Cliff Baty Chief Financial Officer & Director
Joel Glazer Executive Co-Chairman
Avram A. Glazer Executive Co-Chairman
Robert Mark LeitŃo Independent Director
Sector and Competitors