SOCCER Man United reports wider third quarter loss after tough season

Manchester United announced on Wednesday that ticket prices for the upcoming soccer season will increase by approximately 5%. This decision follows a challenging season in the Premier League, during which the club reported a significantly higher net loss of £71.4 million ($91.4 million) for the third quarter ending March 31, compared to a loss of £5.6 million the previous year.

As part of cost-cutting measures, Manchester United confirmed plans to implement a club-wide redundancy program, which includes reducing approximately 250 jobs. The club, which finished in eighth place in the Premier League, its lowest ranking since the League’s inception, has been conducting a thorough review of all operational aspects.

Despite these financial challenges, Manchester United has adjusted its projected annual revenue to around £660 million, up from the previous estimate range of £635 million to £665 million. Additionally, the club anticipates adjusted core profit to be approximately £140 million, compared to an earlier range of £125 million to £150 million.