Manchester United Cuts Profit Forecast Following Champions League Exit

Club reports a net loss of £25.8 million for the quarter ended Sept. 30, with total revenue of £157.1 million, up 9.3% from the previous year.

Manchester United has cut its annual revenue and profit forecasts due to an early exit from the Champions League, which has resulted in a loss of lucrative television revenue.
The club reported a net loss of £25.8 million for the quarter ended Sept. 30, with total revenue of £157.1 million, up 9.3% from the previous year.
The club's wage bill rose to £90.3m following a summer which saw seven signings including Rasmus Hojlund, Andre Onana and Mason Mount join for a total of £178m.
United's total borrowings have increased to £733.2m after a further £100m drawdown on their revolving credit facility since the end of last season.
British billionaire Jim Ratcliffe, who recently acquired a 25% stake in the club, has committed an additional $300m investment, which may be used to cover losses up to £105m.