Manchester United makes record loss of £83.6 million

Manchester United has reported a record pre-tax loss of £83.6 million, despite the football club saying it had been the first English club to make over £100 million in operating profit.

The strong operating profit was attributed to a rise in revenue from broadcasting and commercial income. The pre-tax losses however were attributed to interest charges and debt restructuring costs.

The club paid out £40 million in interest charges this year while wage costs increased seven per cent to £131.7 million.

Club turnover rose to £286.41, with media revenues rising by £5.1 million to £104.8 million but match revenues falling to £100.1 million.

Manchester United saw its debts rise to £521.7 million as of 30 June.