Manchester Utd fall into the red as shutdown hits revenue

VIDEO SHOWS: FILE FOOTAGE OF MANCHESTER UNITED'S OLD TRAFFORD STADIUM, RECENT FOOTAGE OF MANCHESTER UNITED TRAINING SHOWS: MANCHESTER, ENGLAND, UNITED KINGDOM (FILE - MARCH 28, 2019) (REUTERS - ACCESS ALL) 1. MANCHESTER UNITED SIGN ON OLD TRAFFORD STADIUM 2. EXTERIOR OF OLD TRAFFORD STADIUM 3. MANCHESTER UNITED SIGN ON EXTERIOR OF STADIUM MANCHESTER, ENGLAND, UNITED KINGDOM (FILE - DECEMBER 18, 2018) (REUTERS - ACCESS ALL) 4. CLOSE OF MANCHESTER UNITED BADGE OUTSIDE OLD TRAFFORD STADIUM 5. VARIOUS EXTERIORS OF OLD TRAFFORD MANCHESTER, ENGLAND, UNITED KINGDOM (OCTOBER 19, 2020) (MUTV - NO COMMERCIAL USE. NO RESALES) (MUTE) 6. MANCHESTER UNITED PLAYERS JOGGING 7. PLAYERS JOGGING / STRIKER EDINSON CAVANI (LONG HAIR) SPEAKING WITH DEFENDER, AXEL TUANZEBE 8. STRIKER, ANTHONY MARTIAL (CENTRE) STANDING NEXT TO ODION IGHALO (RIGHT / NUMBER 25) 9. PLAYERS TRAINING 10. MANCHESTER UNITED COACH, OLE GUNNAR SOLSKJAER WATCHING ON 11. CAVANI AND DEFENDER, ALEX TELLES IN MIDDLE OF CIRCLE DURING TRAINING DRILL KNOWN AS 'RONDO', CAVANI AND TELLES PATTING HANDS AS THEY WALK PAST EACH OTHER 12. TRAINING IN PROGRESS 13. STRIKER. MARCUS RASHFORD (NUMBER 10) TRAINING A LONG WITH TEAM MATES INCLUDING MIDFIELDERS, DONNY VAN DER BEEK (NUMBER 34) AND FACUNDO PELLISTRI (NUMBER 28) 14. PLAYERS TRAINING 15. TELLES AND MIDFIELDER, BRUNO FERNANDES (NUMBER 18) IN MIDDLE OF CIRCLE DURING RONDO TRAINING DRILL 16. ASSISTANT COACHES MICHAEL CARRICK (RIGHT) AND RICHARD HAWKINS (LEFT) WATCHING ON 17. STRIKER, MASON GREENWOOD TRAINING ALONGSIDE PELLISTRI AND DANIEL JAMES (LEFT) 18. MIDFIELDER, PAUL POGBA (NUMBER 6) TRAINING ALONGSIDE CAVANI AND FERNANDES (CLOSEST TO CAMERA) / TELLES RUNNING INTO POGBA BEFORE MIDFIELDER, NEMANJA MATIC (NUMBER 31) WALKS INTO SCREEN STORY: Manchester United slumped to a net loss of 23.2 million pounds ($30.3 million) in the last financial year as the coronavirus disrupted fixture schedules and forced soccer clubs to play matches behind closed doors. The fresh spike in COVID-19 cases across Europe is likely to further delay the return of supporters, hurting income from matchday ticket and catering sales, as well as museum tours for the bigger clubs. Premier League clubs last week rejected plans put forward by Liverpool and Manchester United for radical changes to the English game's structures and finances and said they would conduct their own review. United, who have made mixed start to the new English Premier League season on the pitch, said revenue in the year ended June 30 fell 19% to 509 million pounds, with some fixtures being delayed beyond that date. It gave no financial forecast for the current year. The club, controlled by the American Glazer family since a highly-leveraged takeover in 2005, said the net loss once the cost of debt financing was taken into account compares with profit of 18.9 million pounds a year earlier. Net debt rose rose 10% to 474.1 million pounds at the end of June compared with the end of March. The 20-times English champions said the impact of the coronavirus crisis on revenue has been partially offset by lower matchday costs and reduced travel due to the three-month suspension of soccer matches from March to June. ($1 = 0.7653 pounds) (Production: Tim Hart)