By Sean Fisher

26th Oct, 2023 | 5:40pm

Revealed: Man United hit by shattering £42m blow

Man United posted record revenue of £648.4million in their newly-released 2022/23 accounts but lost £42m in another shattering financial blow, Football Insider can reveal.

The Red Devils released their financial accounts for the fiscal year ending June 30 on Thursday (26 October).

The revenue figures at Old Trafford are up 11 percent compared to the £583million recorded in 2021/22.

It also marks a new record for the Manchester club and the Premier League, with their figures beating their previous high of £627million set in 2019/20.

United were able to post record revenues despite the club competing in the Europa League last season as opposed to the more lucrative Champions League.

Erik ten Hag’s side reached the quarter-finals of the Europa League before crashing out to Sevilla.

United also won the League Cup, reached the final of the FA Cup and achieved a third-placed finish in the Premier League which will have boosted merit payments for the 2022/23 campaign.

Despite posting record-breaking revenues, United still made a loss of £42.1million over the 12-month period. 

The Red Devils also recorded a net loss of £115.5million in their previous 2021/22 accounts.

However, the club included predictions for their 2023/24 accounts with United anticipating another record-breaking season in terms of revenue.

The accounts project revenue of between £650m and £680m for 2023/24.

The 2023/24 accounts are set to be affected by Sir Jim Ratcliffe’s investment in the club, with the British billionaire on the verge of completing an investment deal for 25 percent of the club’s shares.

In other news, Kieran Maguire makes Ratcliffe contract claim ahead of Man United takeover