Millionaire losses of Juventus and United due to the pandemic

Manchester United announced a net loss of £ 92.2 million on Friday (107 million euros) between June 30, 2020 and June 30, 2021, due to the impact that the pandemic has had on the club's finances.

The total revenue of the English club decreased by 2.9%, up to 494 million pounds (578 million euros), while the department hardest hit was the revenue department on match days, which fell 92.1% because most of last season was played behind closed doors.

United also blame the increase in losses on increase in taxes paid by companies in the UK, although they indicate that last season's participation in the Champions League, as well as income from television rights, have mitigated the fall in income.

Ed Woodward, United Executive Vice President, assured in the conference after the announcement of the results, that “It has certainly been one of the most difficult years in the history of Manchester United.”

“In the worst moments of the pandemic we said that the club would emerge in a position of power, and we believe that now is when we are seeing it. We have strengthened the squad during the summer with the signings of Cristiano Ronaldo, Raphael Varane, Jadon Sancho and Tom Heaton. These additions show that we have the ability to attract some of the best players in the world to Old Trafford. “

Juventus lost 210 million euros in the 2020-21 season

Juventus Turin closed the 2020-21 financial year with a loss of 209.9 million euros, which places your net financial debt of about 389.2 million euros, according to the Turinese entity.

According to the data approved this Friday in the Turin club's board of directors, which calls a shareholder meeting for next October 29, the losses for the 2020-21 financial year exceed by 120.2 million euros those suffered in 2019-20, where they were 89.7 million euros.

This increase in debt has, as indicated, a great effect of the 92.7 million less income obtained, most of it directly motivated by the coronavirus pandemic.