In August 2020, due to the interruption of the pandemic, the company entered into an amendment agreement with General Motors (Chevrolet) to extend the expiration date of the original T-shirt sponsorship agreement for a period of six months until December 31, 2021.
“There are no other adjustments to sponsorship or full consideration fees, which will now be paid in sterling in installments until June 30, 2021. “
“Our purpose remains the aptitude of our colleagues, followers and the network, while adapting to the vital economic ramifications of the pandemic. In this context, our most sensible priority is to bring enthusiasts to the stadium safely and as temporarily as possible.
<< We are also determined to play a constructive role in helping the football pyramid as a full advance through this era of adversity, while exploring characteristics to make English football more powerful and more sustainable in the long term. vision and leadership from all stakeholders, and we look to the future to help advance this process in a timely manner.
“On the field, we have strengthened the team over the summer and remain committed to our goal of winning trophies, betting entertainingly, attacking football with a combination of Academy graduates and high-quality recruits, while thoroughly managing our resources for the long term club. term resilience. “
Manchester United Executive Vice President Ed Woodward spoke to investors at a convention Wednesday after the club’s latest monetary effects were published.
United’s net debt is 474. 1 million pounds below the owners of the Glazer family circle and their total income has fallen year after year due to the coronavirus pandemic. Total sales for the 2019-2020 season were 509 million pounds, compared to 627. 1 million pounds. in the last 12 months, and the day’s revenue was 89. 8 million pounds, a minimum of 21 million pounds, or 19%.
In a long statement, Woodward said: “On the court, we will never be thrilled with Manchester United unless we win trophies. But our third Premier League position and our smart cup shots last season proved it, though there’s more. The paintings are moving forward and the road is not easy, we are moving forward.
“We have a transparent strategy under Ole to build a successful and committed team, with a local skill core combined with high-quality recruits who play fast and offensive football. “
See what Woodward had to say next.
All this comes from today’s call.
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“I’ve noticed the reports on this and, frankly, I don’t know where this story comes from.
“We have nothing to say.
“We talked to the ECA and UEFA about the Champions League adjustments and beyond.
“I can’t comment on your question. “
“We are subject to government regulations. The initial expectation that there would be a partial setback on October 1 replaced this meeting due to what is happening in other areas, i. e. around the return to school and college.
“The government expects full stadiums until March 2021. We remain subject to the general stage of the return of fans. “
The call for the November convention will take place.
A Q&A consultation is about to take place.
“We are the first club to succeed in 10 million Webo subscribers in China. “
“We continue to prepare to welcome our followers, as fitness and protection remain our most sensitive priority.
“In the meantime, we have taken a step forward in our efforts at the stadium, such as contactless access to tickets. “
“Fiscal year 2020 a counterfeit year.
“For the year, we signed 8 new sponsorship contracts. The pandemic has shown resistance to our partners.
“During this period, we extended 8 sponsorships. “
“We achieved high levels of participation on all platforms during the fourth quarter.
“Our overall success has advanced with the best exclusive numbers.
“We conducted months of interaction on our mobile app in June and July.
“We have recorded over a billion interactions in our social media engagement. “
“We have continued to use our global platform to support those in need around the world.
“We have stepped up our efforts by providing food for the NHS, teaming up with fan clubs and launching a fundraising campaign.
“The budget generated through this already exceeds one million pounds.
“We are incredibly proud of Marcus Rashford’s efforts.
“Marcus has been a success in defending children’s hunger, but he has also campaigned and achieved a replacement that has affected the whole country. “
“Another very important factor for football as a whole is the reopening of stadiums to spectators as soon as the government allows. As the stage in Greater Manchester and the UK as a whole continues to evolve, our plans in this regard are well complex and we have confidence and the ability of the entire league to welcome them in a biosafe environment.
“Crowds have been allowed to return to varying degrees in more than 20 European countries, albeit with significant capacity constraints to allow social estating, and we urge the British government to stick to these positive examples as soon as necessary. “
“While we recognize that public fitness will have to be the priority, a consistent technique is needed. If other people are allowed to sit on a plane for hours, in movies or even watch football in a movie theater, why not?doors in a professionally controlled and controlled stadium environment?If indoor concerts are allowed, why do they deserve to be treated differently by outdoor and socially remote football enthusiasts?Fans are the basis of this game and some of the inconsistencies are frustrating for them and for clubs.
<< Finally, despite the serious short-term pressures created by the pandemic, we remain positive about the medium and long term. The call for live football in the world is strong; and our sustainable business style means we are very well positioned to exploit that growth, while we continue with what will be our number one priority: to offer success, entertainment and trophies on the field. "
“More recently, you could possibly have read the discussions that are taking place within English football about plans to address the short-term monetary scenario created through the pandemic for declining league clubs. We have played an active role in these discussions because in supporting the pyramid of English football, either in the short term, to resolve the disorders created through COVID-19, and long term to improve monetary viability in all grades of the game.
“There will be intense debate about any change in football design, just as there was before the Premier League formation 28 years ago. Now, at this critical moment for the game, you’ll have to make sure that the huge Premier League Good Fortune is strengthened while ensuring that the football pyramid at Giant continues to thrive in a fast-converting media environment.
“To achieve this, strategic vision and leadership will be required. We are pleased that the Premier League is committed to implementing in combination a plan for long-term structures and funding for English football. He will now have to keep that promise,” and we are determined to play a leading role in advancing this procedure towards a positive outcome. “
“While our commitment to investment remains, it will have to be balanced through the popularity of the incredibly challenging environment that we and all football clubs are facing at the moment.
Gross moving expenses in major European leagues fell by 40% this summer, due to lower transaction volumes and lower average rates
The contraction also felt at the end of the market height, with no transactions exceeding one hundred million euros for the first time in five years; and a relief of about 30% in average prices for the 30 most sensitive transfers
There has been a significant increase in the percentage of transfers and loose loans (more than 20% and about 30% respectively).
At club level, many of our colleagues have been cautious, with Real Madrid, Barcelona, Bayern Munich, Juventus and PSG spending a total of nine million euros; an average expenditure of thirteen million euros
Of course, there were one or two outliers in the other direction, particularly Chelsea, which made up for his inability to keep his movement ban active in the summer of 2019. But you have to look through several windows to have a clearer perspective; and as I mentioned earlier, our overall net investment during the last 3 motion windows compares very favorably with our peers.
“Ultimately, we are making an investment and will continue to invest for the administrator. “
“We continue to invest heavily in our thriving academy, whose graduates make up a third of our current first-team team.
“The flow of new skills seems more exciting than ever, with Ole making his first-team debut with 8 Academy graduates last season, the number since Busby Babes’ advance in 1952/53.
This religion in young people remains an integral component of our identity as a club. Even with the addition of more experienced players this month, our team remains one of the youngest in the Premier League with an average age of 25. has the prospect of further improvement as our young players evolve and mature.
“We are also incredibly excited about the progress made through our women’s team Casey Stoney after the arrival of several new players this summer, adding Tobin Heath and Christen Press, two-time World Cup champions with the U. S. national team. “
“In this sense, we are satisfied with our recent additions to the first team formed by Donny van de Beek and Alex Telles, two players we have been following as a component of our protracted selection process, and Edinson Cavani, one of the forwards. . that adds a new option to our first line.
“We also welcome Facundo Pellistri and Amad Diallo, who will sign up for two young and exciting wannabes in January who have also been widely identified.
“In addition to bruno Fernandes’ arrival earlier this year, these recruits underscore our continued commitment to strengthening the team and expanding our net investment in new players from the summer of 2019 to more than two hundred million euros, more, I think, than any other. “another primary European club. “
“On the field, Manchester United will never love it unless we win trophies. But our third Premier League position and our smart cup shots last season showed that there are more paintings to be done and the road doesn’t always. smooth, we’re making progress.
“We have a transparent strategy under Ole to build a successful and committed team, with a local skill core combined with high-quality recruits, who play fast and offensive football. “
“Today we take a look at what has been one of the most ordinary and challenging seasons in recent history, and I’m proud of the way the club continues to respond.
“There are still wonderful and demanding situations and uncertainties as the coronavirus pandemic continues to disrupt our lives around the world.
“This disruption is evident in the monetary effects we are pronouncing today and we hope that the effect will remain visual for some time.
“However, the following year has also demonstrated the underlying strength and endurance of the club, the special role the game plays in our societies, and the significant effect it can have on the club on our communities during this time of adversity. “
The convention call will begin in just over 7 minutes.
Stay tuned for LIVE updates.
The revenue from retransmissions for the year was 140. 2 million pounds, a minimum of 101. 0 million pounds, or 41. 9%, compared to last year, mainly due to non-participation in the UEFA Champions League, plus the effect of ten houses. and away matches similar to 2019. / 20 competitions played at the start of the 2021 monetary year (including six Premier League matches, 3 UEFA Europa League matches and one FA Cup match).
Revenues were affected by Premier League discounts, estimated at around 14 million pounds for the entire 2019/20 season, as a result of delays and adjustments in air schedule for the season as a whole.
Revenue from the quarter’s broadcasts was 16. 6 million pounds, a minimum of 24. 3 million pounds, or 59. 4%, compared to last year’s quarter, basically due to four fewer games at home and outside the Premier League and two fewer matches at the UEFA festival. at home and away after the postponement of the 2019/20 festivals. The first team qualified for the UEFA Champions League quarter-finals in the last quarter-
United’s net debt as of June 30, 2020, 474. 1 million pounds, an accumulation of 270. 5 million pounds during the year, due to a minimum of 256. 1 million pounds in money and money equivalents and unfavorable fluctuations in the GBP/USD exchange rate.
The minimisation in money and money equivalents reflects the effect of deferred sponsorship bills (above 80. 0 million pounds), the loss of expected money receipts for the 2020/21 season (usually above 50. 0 million pounds before a Champions League season). sales of services have been suspended lately due to uncertainties surrounding the return of stadium enthusiasts and the accumulation of player investment in fiscal year 2020 (an accumulation of 56. 4 million pounds in net capital expenditures on intangible assets compared to last year).
Gross debt in USD remains unchanged.
Sales for the year amounted to 279. 0 million pounds, a build-up of 3. 9 million pounds, or 1. 4%, over the past year.
United demonstrated that it has extended its blouse sponsorship agreement with Chevrolet through December 2021.
“In August 2020, due to the interruption of the pandemic, the company entered into an amendment agreement with General Motors (Chevrolet) to extend the expiration date of the original T-shirt sponsorship agreement by an era of six months until December 31, 2021.
“There are no further adjustments to the sponsorship fees or full consideration, which will now be paid in sterling in installments until June 30, 2021. “
United Executive Vice President Ed Woodward issued a message after the club published its monetary results.
“Our purpose remains the aptitude of our colleagues, followers and the network, while adapting to the vital economic ramifications of the pandemic. In this context, our most sensible priority is to bring enthusiasts to the stadium safely and as temporarily as possible.
<< We are also determined to play a constructive role in helping the pyramid of football as a total breakthrough through this era of adversity, while exploring features to make English football more powerful and more sustainable in the long run. vision and leadership of all stakeholders, and we look to the future to help advance this procedure in a timely manner.
“On the field, we have strengthened the team over the summer and remain committed to our goal of winning trophies, betting entertainingly, attacking football with a combination of Academy graduates and top-quality recruits, while thoroughly managing our resources for the long-term Club term resilience. “
United enthusiasts prepare for today’s unflattering numbers, adding debt. United’s resources noted that the net debt figure at any given time consists of a principal debt amount, fewer reserves of money, and a net debt accumulation does not necessarily mean that he has accumulated a significant debt; this can also change exchange rates, as the debt is quoted in dollars.
Cash reserves also vary at any given time due to points such as player investment and fluctuations in money flows, such as the time of sponsorship bills and subscription revenue. United noted that by the end of the third quarter, the largest gross debt in US dollars had remained unchanged since 2015.
Despite this context, it is unlikely to appease enthusiasts who supported a club that was once debt-free before the Glazers took toxic control in 2005, so they were invited through Ed Woodward. most productive victory of the Ole Gunnar Solskjaer era last night.
The effects will be fiscal year 2019/20 from July 1, 2019 to June 30, 2020, and the fourth quarter of this year (April 1 to June 30),
Due to Covid-19, there has been one Premier League home game, two Premier League away games and one FA Cup quarter-final played in the fourth fiscal quarter.
All matches were played behind closed doors.
Welcome to our policy on convening the Ed Woodward convention at Manchester United.
The call is scheduled to start at 1 p. m.