Financial Performance - Total revenue for the fiscal year ended June 30, 2024, was £661.8 million, representing an increase from £648.4 million in 2023 and £583.2 million in 2022[182]. - Total revenue for the year ended June 30, 2024, was £302.9 million, with commercial revenue being a significant contributor[311]. - Total operating expenses increased by £87.4 million, or 12.8%, to £768.5 million, with employee benefit expenses rising by £33.3 million, or 10.0%[337][338]. - Net cash inflow from operating activities was £85.7 million for the year ended June 30, 2024, a decrease of £10.1 million compared to £95.8 million for the year ended June 30, 2023[363]. - Net cash outflow from investing activities for the year ended June 30, 2024, was £171.2 million, an increase of £31.0 million from £140.2 million for the year ended June 30, 2023[365]. - Net cash inflow from financing activities for the year ended June 30, 2024, was £87.5 million compared to a net cash outflow of £1.9 million for the year ended June 30, 2023[367]. - The company believes it has sufficient working capital for its present requirements for at least the next 12 months[358]. Revenue Breakdown - Sponsorship revenue for the year ended June 30, 2024, was £177.8 million, compared to £189.5 million in 2023 and £147.9 million in 2022, indicating a decrease in 2024[178]. - Retail, merchandising, apparel, and product licensing revenue reached £125.1 million for the year ended June 30, 2024, up from £113.4 million in 2023 and £109.9 million in 2022[179]. - Broadcasting revenue was £221.8 million for the year ended June 30, 2024, an increase from £209.1 million in 2023 and £214.9 million in 2022[181]. - Matchday revenue for the year ended June 30, 2024, was £137.1 million, slightly up from £136.4 million in 2023 and significantly higher than £110.5 million in 2022[182]. - Sponsorship revenue for the year ended June 30, 2024, reached £118.2 million from global, regional, and other sponsors, excluding revenue from the agreement with adidas[240]. Sponsorship and Partnerships - The partnership with adidas has been extended until June 30, 2035, focusing on global technical sponsorship and dual-branded licensing rights[190]. - The minimum guarantee from the extended adidas agreement totals £1.65 billion, with £750 million from the original term and an additional £900 million from the extension[246]. - The club's sponsorship strategy includes targeting potential sponsors with the financial resources to support integrated marketing relationships[231]. - Sponsorship agreements provide various rights, including exposure on the club's digital platforms and merchandise[230]. Digital and E-commerce Initiatives - A new e-commerce platform in partnership with SCAYLE is set to launch later this year, enhancing the direct-to-consumer experience for fans[191]. - The partnership with SCAYLE, announced in September 2024, aims to enhance the club's e-commerce capabilities and deliver a top-tier direct-to-consumer experience[252]. - The club's e-commerce sales saw record-breaking launches, with day one sales of the 2023/24 home kit hitting unprecedented numbers, and the highest sales recorded during Black Friday and the Christmas period[251]. Fan Engagement and Community - The CRM database holds approximately 63.3 million records as of June 30, 2024, providing insights into customer engagement[175]. - Total social connections increased to 261.1 million as of June 30, 2024, representing an 8.4% increase from 240.9 million in 2023[176]. - The club generated over 11 million engagements and 234 million impressions through various equality, diversity, and inclusion campaigns[292]. - Manchester United has a community of 1.1 billion fans and followers, positioning the club for continued growth in the global sports market[199]. Operational Developments - The management team has undergone significant changes in 2024, with new appointments aimed at enhancing football and commercial strategies[188]. - The club continues to invest in facilities and fan experience initiatives, including a stadium-wide Wi-Fi network launched ahead of the 2023/24 season[188]. - The men's first team building at Carrington is set to undergo refurbishment to create a world-class football facility, with work expected in fiscal year 2025[228]. - The club has invested in a new high-performance training base for the women's and academy teams, featuring advanced facilities[228]. Broadcasting and Media Rights - The international broadcasting rights for the Premier League saw a 28% uplift compared to the previous cycle, with international rights equaling domestic rights for the first time[196]. - The total value of the new domestic broadcasting rights deal for 2025/26 to 2028/29 is £6.7 billion, representing a 4% increase in live rights value[197]. - The UEFA club competitions' new media rights agreement for the 2024/25 season is worth €4.4 billion, a 26% increase from the previous agreement[197]. - The Premier League broadcasting revenue is shared among clubs based on league position and live television appearances, with international broadcasting rights fixed at the previous cycle's equal share adjusted for inflation[253]. Youth and Women's Teams - The women's team finished 5th in the 2023/24 season and won the Women's FA Cup, defeating Tottenham Hotspur 4-0 in the final[222]. - The youth academy has included a homegrown player in every matchday squad for the last 85 years, emphasizing the development of talent[225]. - The women's team aims to develop a competitive squad capable of excelling both domestically and in Europe, supported by high-quality recruits[222]. Environmental and Social Responsibility - Manchester United achieved the Carbon Trust Standard, recognizing its commitment to measuring and managing environmental impacts[295]. - The club's ED&I strategy aims to meet specific diversity goals for gender, race, disability, and LGBTQ+ representation, aligning with UEFA sustainability goals[290].

Revenue Performance - Total revenue for the three months ended 31 December 2023 was £225.8 million, a 34.9% increase compared to the same period in 2022[7] - Broadcasting revenue for the three months ended 31 December 2023 was £106.4 million, an 81.0% increase compared to the same period in 2022[10] - Matchday revenue for the three months ended 31 December 2023 was £47.6 million, a 59.2% increase compared to the same period in 2022[11] - Total revenue for the six months ended 31 December 2023 was £382.9 million, a 23.1% increase compared to the same period in 2022[19] - Broadcasting revenue for the six months ended 31 December 2023 was £145.7 million, a 55.5% increase compared to the same period in 2022[22] - Matchday revenue for the six months ended 31 December 2023 was £75.0 million, a 46.5% increase compared to the same period in 2022[23] - Revenue from contracts with customers for the six months ended 31 December 2023 was £382.852 million, compared to £311.022 million for the same period in 2022[65] - Broadcasting revenue for the six months ended 31 December 2023 was £145.8 million, a significant increase from £93.8 million in the same period in 2022[99] - Matchday revenue for the six months ended 31 December 2023 was £74.9 million, up from £51.2 million in the same period in 2022[99] - Commercial revenue for the six months ended 31 December 2023 was £162.1 million, slightly down from £166.1 million in the same period in 2022[99] Operating Expenses - Total operating expenses for the three months ended 31 December 2023 were £198.7 million, an 18.6% increase compared to the same period in 2022[12] - Employee benefit expenses for the three months ended 31 December 2023 were £95.1 million, a 23.0% increase compared to the same period in 2022[12] - Total operating expenses for the six months ended 31 December 2023 were £383.4 million, a 15.7% increase compared to the same period in 2022[24] - Employee benefit expenses increased to £185.4 million for the six months ended 31 December 2023, compared to £159.6 million in the same period in 2022[105] Financial Performance - Operating profit for the six months ended 31 December 2023 was £29.309 million, compared to an operating loss of £6.242 million for the same period in 2022[65] - The company reported a loss of £5.383 million for the six months ended 31 December 2023, compared to a loss of £20.210 million in the same period in 2022[117] - Basic loss per share for the six months ended 31 December 2023 was 3.30 pence, compared to 12.39 pence in the same period in 2022[117] - The Group's profit before income tax for the three months ended 31 December 2023 was £27,219,000, compared to a loss of £5,585,000 for the six months ended 31 December 2023[175] Cash Flow and Liquidity - As of 31 December 2023, the company had cash resources of £62.8 million and access to an undrawn revolving facility of £40 million[30] - Net cash outflow from operating activities for the six months ended 31 December 2023 was £25.1 million, compared to £67.5 million in 2022[39] - Net cash outflow from investing activities for the six months ended 31 December 2023 was £146.2 million, an increase of £23.0 million from 2022[42] - Net cash inflow from financing activities for the six months ended 31 December 2023 was £159.5 million, driven by a £160.0 million drawdown on revolving facilities[43] - Net cash outflow from operating activities was £25.1 million for the six months ended 31 December 2023, compared to £67.6 million in the same period in 2022[77] - Net cash outflow from investing activities increased to £146.2 million for the six months ended 31 December 2023, primarily due to higher payments for intangible assets related to player registrations[77] - Cash and cash equivalents stood at £62.8 million as of 31 December 2023, with access to undrawn revolving facilities of £40 million[82] - The company received a cash injection of $200 million related to a minority investment by Sir Jim Ratcliffe, with an additional $100 million expected by 31 December 2024[83] - The Group repaid £120 million of revolving facilities in February 2024, reducing total drawdown to £140 million from available facilities of £300 million[199] Debt and Borrowings - The company's senior secured notes outstanding as of 31 December 2023 were £331.6 million, with a principal amount of $425.0 million[45] - The secured term loan facility outstanding as of 31 December 2023 was £174.9 million, with a principal amount of $225.0 million[49] - Manchester United has £135 million in outstanding loans and £15 million in borrowing capacity under its initial revolving facility as of 31 December 2023[54] - The new revolving facility has £62.5 million in outstanding loans and £12.5 million in borrowing capacity as of 31 December 2023, with a maturity date of 25 June 2027[56] - The bilateral revolving facility also has £62.5 million in outstanding loans and £12.5 million in borrowing capacity as of 31 December 2023, with a maturity date of 25 June 2027[57] - The company has outstanding loans of £260 million under revolving facilities, with secured notes and term loans maturing in 2027 and 2029 respectively[82] - Total borrowings as of 31 December 2023 were £773,301,000, up from £613,296,000 in June 2023 but down from £741,900,000 in December 2022[162] - Senior secured notes as of 31 December 2023 were £331,572,000, slightly down from £332,112,000 in June 2023 and £350,626,000 in December 2022[162] - Secured term loan facility as of 31 December 2023 was £174,937,000, slightly down from £175,223,000 in June 2023 and £185,028,000 in December 2022[166] - The Group has £260,000,000 in outstanding loans and £40,000,000 in borrowing capacity under revolving facilities, with £150,000,000 of the facilities terminating on 4 April 2025 and the remainder on 25 June 2027[167] Assets and Liabilities - Total assets as of 31 December 2023 were £1.472 billion, compared to £1.427 billion as of 31 December 2022[70] - Total equity as of 31 December 2023 was £96.017 million, compared to £109.752 million as of 31 December 2022[73] - Current liabilities as of 31 December 2023 were £661.426 million, compared to £608.290 million as of 31 December 2022[73] - Total equity decreased from £127.5 million at 30 June 2022 to £96.0 million at 31 December 2023, reflecting a comprehensive loss over the period[75] - The net book amount of property, plant, and equipment as of 31 December 2023 was £255.246 million, up from £243.434 million in the same period in 2022[124] - Investment properties had a fair value of £32,970,000 as of 30 June 2023, with no impairment indicators noted as of 31 December 2023[137] - Goodwill remained unchanged at £421,453,000 as of 31 December 2023, with no impairment indicators identified[140] - Additions to registrations (intangible assets) were £215,086,000 in the six months ended 31 December 2023, contributing to a net book amount of £494,157,000[141] - Deferred tax liability decreased to £924,000 as of 31 December 2023 from £3,304,000 as of 30 June 2023[147] - Inventories as of 31 December 2023 increased to £4,024,000 from £3,165,000 in June 2023 and £3,272,000 in December 2022[149] - Net trade receivables as of 31 December 2023 were £105,886,000, up from £53,470,000 in June 2023 but down from £137,633,000 in December 2022[150] - Gross contractual trade receivables as of 31 December 2023 were £108,900,000, compared to £54,393,000 in June 2023 and £139,199,000 in December 2022[151] - Cash and cash equivalents as of 31 December 2023 were £62,809,000, down from £76,019,000 in June 2023 but up from £31,045,000 in December 2022[156] - Trade payables as of 31 December 2023 increased to £348,707,000 from £302,708,000 in June 2023 and £290,239,000 in December 2022[160] - Gross contractual trade payables as of 31 December 2023 were £378,560,000, compared to £317,809,000 in June 2023 and £307,913,000 in December 2022[161] - The Group's total provisions decreased from £12,939,000 at 30 June 2023 to £11,063,000 at 31 December 2023, with a significant reassessment of provisions leading to a £1,876,000 credit[168] - The Group's pension scheme deficit was £27.5 million as of 31 August 2020, with current annual contributions of £573,000 increasing by 5% annually from September 2024[173] - The Group's hedging reserve decreased from £4,002,000 at 30 June 2023 to a negative £25,000 at 31 December 2023, primarily due to changes in the cash flow hedge reserve[187] - Capital commitments for property, plant, and equipment were £2,166,000 as of 31 December 2023, down from £5,152,000 in June 2023[193] Player Transfers and Contingent Liabilities - The maximum additional amount payable for contingent consideration related to player transfers is £158.0 million as of 31 December 2023[61] - The maximum additional amount payable for contingent consideration related to player registrations could impact the net book value of registrations[143] - The Group's contingent liabilities for potential additional transfer fees increased to £158,040,000 at 31 December 2023, up from £133,142,000 at 30 June 2023[190] - The Group has probable contingent assets of £250,000 from player transfer performance conditions as of 31 December 2023, compared to £nil in previous periods[192] - Total performance-related conditions for players amount to £158,040,000, including £112,368,000 for first team squad appearances and success[194] - Post-31 December 2023, player registration disposals generated net proceeds of £989,000 and additional receivables of £207,000[196] Strategic Investments and Shareholder Changes - Sir Jim Ratcliffe acquired 27.7% of Manchester United's voting rights through a $200 million investment, with an additional $100 million to be invested by 31 December 2024[197] - Post-transaction, the Glazer family controls 69.1% of voting power, while Sir Jim Ratcliffe holds 27.7%[200] Accounting and Financial Policies - Revenue recognition is subject to seasonality, with the highest revenue typically recognized in the second and third fiscal quarters due to match scheduling[89] - Commercial revenue includes sponsorship agreements, retail sales, and licensing, with revenue recognized over the term of sponsorship agreements based on performance obligations[90] - The company's financial statements are prepared on a going concern basis, with management confident in meeting obligations for at least 12 months from the report date[83] - The adoption of new accounting standards, such as amendments to IAS 1 regarding deferred tax, has not materially affected the financial statements[84] - The Group signed a 10-year extension with adidas, with a total minimum guarantee of £1,650 million (£750 million original term + £900 million extension), subject to adjustments based on team performance[93] - Payments may increase by up to £4.4 million annually if the men's or women's teams win major competitions, or decrease by £10 million per year if the men's team fails to participate in the UEFA Champions League starting from the 2025/26 season[93] - The estimated weighted average annual tax rate for the year to 30 June 2024 is 15.72%, down from 20.99% in the previous year[114] - The US federal corporate income tax rate of 21% is lower than the UK corporation tax rate of 25%, potentially sheltering future US cash tax with UK tax credits[145] Miscellaneous - Amortization for the three months ended 31 December 2023 was £50.5 million, a 12.2% increase compared to the same period in 2022[14] - Exceptional items for the six months ended 31 December 2023 were a cost of £9.6 million, primarily related to the strategic review and sale of shares to Sir Jim Ratcliffe[26] - Profit on disposal of intangible assets for the six months ended 31 December 2023 was £29.9 million, compared to £14.0 million in the same period in 2022[27] - Net finance costs for the six months ended 31 December 2023 increased to £34.9 million from £18.9 million in 2022, driven by higher interest costs and derivative valuation changes[28] - Income tax credit for the six months ended 31 December 2023 was £0.2 million, down from £4.9 million in 2022[29] - Exceptional items for the three and six months ended 31 December 2023 were £9.6 million, related to strategic review and share sale agreement with Sir Jim Ratcliffe[107] - Profit on disposal of registrations for the six months ended 31 December 2023 was £29.9 million, compared to £14.0 million in the same period in 2022[108] - Net finance costs for the six months ended 31 December 2023 were £34.894 million, compared to £18.873 million in the same period in 2022[109] - Total finance costs for the six months ended 31 December 2023 were £37.842 million, up from £21.956 million in the same period in 2022[109] - Total finance income for the six months ended 31 December 2023 was £2.948 million, down from £3.083 million in the same period in 2022[109] - No dividends were paid in the six months ended 31 December 2023, consistent with the same period in 2022[121] - Additions to right-of-use assets for the six months ended 31 December 2023 amounted to £113,000, down from £301,000 in the same period in 2022[126] - Total lease liabilities decreased to £8,565,000 as of 31 December 2023 from £8,880,000 as of 30 June 2023[129] - Additions to lease liabilities were £6,084,000 in the first half of 2023, significantly increasing from £300,000 in the second half of 2022[130] - Depreciation charge for right-of-use assets totaled £639,000 for the six months ended 31 December 2023, compared to £1,020,000 for the same period in 2022[131] - The cost of inventories recognized as an expense for the six months ended 31 December 2023 was £8,614,000, compared to £12,307,000 for the year ended 30 June 2023 and £7,042,000 for the six months ended 31 December 2022[149]

[Report Overview and Key Developments](index=1&type=section&id=Report%20Overview%20and%20Key%20Developments) This section provides an overview of the club's record Q2 revenues, strategic investments, new leadership, and stadium development plans [Key Highlights](index=1&type=section&id=Key%20Highlights) The club reported record second-quarter revenues of £225.8 million, driven by UEFA Champions League participation, alongside key corporate developments including a new CEO and Sir Jim Ratcliffe's minority investment - Key Corporate and Strategic Developments[2](index=2&type=chunk) - **Investment**: Completed a minority investment by Sir Jim Ratcliffe, including an additional **$300 million** primary investment[2](index=2&type=chunk) - **Leadership**: Appointed Omar Berrada as the new CEO[2](index=2&type=chunk) - **Stadium Development**: Created a task force to explore options for Old Trafford's development and regeneration of the surrounding area[2](index=2&type=chunk) - **Commercial**: Announced a new e-commerce partnership with SCAYLE and a return to the USA for the Summer Tour 2024[2](index=2&type=chunk) - On-pitch and Operational Updates[2](index=2&type=chunk) - **Financial Performance**: Achieved record Q2 revenues of **£225.8 million**, primarily due to Champions League participation and strong Matchday results[2](index=2&type=chunk) - **Team Progress**: Both Men's and Women's first teams advanced to the FA Cup quarterfinals[2](index=2&type=chunk) - **Player Transfers**: The Men's team loaned out 11 players and the Women's team loaned out two players in the January transfer window[2](index=2&type=chunk) [Management Commentary](index=1&type=section&id=Management%20Commentary) The Chief Financial Officer, Cliff Baty, highlighted the strong revenue performance in the first half of the fiscal year and reiterated the full-year guidance for record revenues - The CFO expressed confidence in achieving record revenues for the full fiscal year, building on strong first-half performance[3](index=3&type=chunk) - Emphasis is placed on working with new co-owner Sir Jim Ratcliffe to drive the club forward and achieve on-pitch success[3](index=3&type=chunk) [Financial Outlook](index=1&type=section&id=Financial%20Outlook) The company has reiterated its previously stated financial guidance for the full fiscal year 2024, projecting record revenues and a strong adjusted EBITDA Fiscal 2024 Guidance | Metric | Guidance Range (£ million) | | :--- | :--- | | **Revenue** | £635 to £665 | | **Adjusted EBITDA** | £125 to £150 | [Financial Performance Analysis](index=2&type=section&id=Financial%20Performance%20Analysis) This section analyzes the club's financial results for Q2 and H1 FY2024, highlighting revenue growth, profitability, and expense trends [Key Financials Summary (Q2 & H1 FY2024)](index=2&type=section&id=Key%20Financials%20Summary%20%28Q2%20%26%20H1%20FY2024%29) For the second quarter of fiscal 2024, Manchester United reported a significant 34.9% increase in total revenue to £225.8 million, driven by strong growth in Broadcasting and Matchday segments Q2 FY2024 Financial Highlights (£ million) | Metric | Q2 FY2024 | Q2 FY2023 | Change (%) | | :--- | :--- | :--- | :--- | | **Total Revenue** | 225.8 | 167.3 | 34.9% | | Commercial Revenue | 71.8 | 78.7 | (8.8)% | | Broadcasting Revenue | 106.4 | 58.7 | 81.0% | | Matchday Revenue | 47.6 | 29.9 | 59.2% | | **Adjusted EBITDA** | 91.4 | 48.3 | 88.8% | | **Profit for the period** | 20.4 | 6.3 | 223.8% | | **Basic EPS (pence)** | 12.49 | 3.87 | 222.7% | H1 FY2024 Financial Highlights (£ million) | Metric | H1 FY2024 | H1 FY2023 | Change (%) | | :--- | :--- | :--- | :--- | | **Total Revenue** | 382.9 | 311.0 | 23.1% | | **Adjusted EBITDA** | 114.7 | 71.9 | 59.5% | | **Loss for the period** | (5.3) | (20.2) | 73.8% (improvement) | [Revenue Analysis](index=3&type=section&id=Revenue%20Analysis) Total revenue for Q2 FY2024 grew significantly, primarily due to a substantial increase in Broadcasting and Matchday revenues from participation in the UEFA Champions League [Commercial Revenue](index=3&type=section&id=Commercial%20Revenue) Commercial revenue decreased by 8.8% to £71.8 million in Q2, primarily due to a 22.2% drop in sponsorship revenue from a prior-year one-off credit, partially offset by retail and merchandising growth Q2 Commercial Revenue Breakdown (£ million) | Category | Q2 FY2024 | YoY Change (%) | Reason | | :--- | :--- | :--- | :--- | | **Total Commercial** | **71.8** | **(8.8)%** | - | | Sponsorship | 39.2 | (22.2)% | One-off sponsorship credit in prior year quarter | | Retail, Merchandising, etc. | 32.6 | 15.2% | Adidas contract extension and strong megastore performance | [Broadcasting Revenue](index=3&type=section&id=Broadcasting%20Revenue) Broadcasting revenue for the quarter surged by 81.0% to £106.4 million, a direct result of the men's first team participating in the more lucrative UEFA Champions League - Broadcasting revenue increased by **£47.6 million (81.0%)** to **£106.4 million**[10](index=10&type=chunk) - The primary driver for this growth was the men's first team's participation in the UEFA Champions League versus the UEFA Europa League in the prior year[10](index=10&type=chunk) [Matchday Revenue](index=3&type=section&id=Matchday%20Revenue) Matchday revenue saw strong growth of 59.2%, reaching £47.6 million for the quarter, driven by playing two more home games and higher revenue from UEFA Champions League matches - Matchday revenue increased by **£17.7 million (59.2%)** to **£47.6 million**[11](index=11&type=chunk) - Key drivers for the increase were: - Playing two more home games in Q2 FY2024 compared to Q2 FY2023[11](index=11&type=chunk) - Participation in the UEFA Champions League instead of the UEFA Europa League[11](index=11&type=chunk) [Operating Expenses and Profitability](index=3&type=section&id=Operating%20Expenses%20and%20Profitability) Total operating expenses rose by 18.6% to £198.7 million, largely due to a 23.0% increase in employee benefit expenses linked to Champions League participation [Operating Expenses](index=3&type=section&id=Operating%20Expenses) Operating expenses for the quarter increased by 18.6% to £198.7 million, primarily driven by a 23.0% rise in employee benefit expenses to £95.1 million due to Champions League participation Q2 Operating Expenses Breakdown (£ million) | Expense Category | Q2 FY2024 | YoY Change (%) | Reason | | :--- | :--- | :--- | :--- | | **Total Operating Expenses** | **198.7** | **18.6%** | - | | Employee benefit expenses | 95.1 | 23.0% | Champions League participation[12](index=12&type=chunk) | | Amortization | 50.5 | 12.2% | Investment in the first team playing squad[13](index=13&type=chunk) | | Other operating expenses | 39.3 | (5.8)% | -[14](index=14&type=chunk) | | Depreciation | 4.2 | 16.7% | -[15](index=15&type=chunk) | [Exceptional Items, Finance Costs & Tax](index=4&type=section&id=Exceptional%20Items%2C%20Finance%20Costs%20%26%20Tax) The company recorded exceptional costs of £9.6 million related to its strategic review and the partial sale to Sir Jim Ratcliffe, alongside a shift to net finance costs and increased income tax expense - **Exceptional Items**: A cost of **£9.6 million** was incurred related to the strategic review and the sale of shares to Sir Jim Ratcliffe[16](index=16&type=chunk) - **Net Finance Costs**: Net finance costs were **£0.3 million**, a significant change from net finance income of £12.1 million in the prior-year quarter, mainly due to smaller foreign exchange gains on USD borrowings[17](index=17&type=chunk) - **Income Tax**: The income tax expense for the quarter was **£6.8 million**, up from £2.9 million in the prior-year quarter[18](index=18&type=chunk) [Cash Flow and Balance Sheet](index=4&type=section&id=Cash%20Flow%20and%20Balance%20Sheet) The company's cash and cash equivalents decreased by £18.0 million during the quarter, ending at £62.8 million, with total non-current borrowings of $650 million [Cash Flow Summary](index=4&type=section&id=Cash%20Flow%20Summary) During the quarter, there was a net cash outflow from operating activities of £46.6 million and an outflow from investing activities of £35.7 million, partially offset by a net cash inflow from financing activities of £59.7 million Q2 Cash Flow Summary (£ million) | Cash Flow Activity | Q2 FY2024 | Q2 FY2023 | | :--- | :--- | :--- | | Net cash outflow from operating activities | (46.6) | (61.5)[18](index=18&type=chunk) | | Net capital expenditure on intangible assets | (35.7) | (29.9)[19](index=19&type=chunk) | | Net cash inflow from financing activities | 59.7 | 99.4[19](index=19&type=chunk) | | **Net decrease/(increase) in cash** | **(18.0)** | **6.7** | [Balance Sheet Summary](index=4&type=section&id=Balance%20Sheet%20Summary) As of December 31, 2023, non-current borrowings remained at $650 million, with an outstanding balance on the revolving credit facility of £260.0 million, and cash and cash equivalents at £62.8 million - Non-current borrowings were unchanged at **$650.0 million**[20](index=20&type=chunk) - The outstanding balance on the revolving credit facility was **£260.0 million** as of 31 December 2023[8](index=8&type=chunk) - Cash and cash equivalents were **£62.8 million** at the end of the quarter, compared to £31.0 million at the end of the prior year quarter[21](index=21&type=chunk) [Consolidated Financial Statements (Unaudited)](index=8&type=section&id=Consolidated%20Financial%20Statements%20%28Unaudited%29) This section presents the unaudited consolidated financial statements, including the statement of profit or loss, balance sheet, and cash flows [Consolidated Statement of Profit or Loss](index=8&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss) This statement details the Group's revenues, expenses, finance costs/income, and tax to arrive at the profit or loss for the three and six-month periods ended December 31, 2023, and 2022 Q2 FY2024 Profit or Loss Highlights (£ thousands) | Item | Three months ended 31 Dec 2023 | Three months ended 31 Dec 2022 | | :--- | :--- | :--- | | Revenue | 225,756 | 167,368 | | Operating profit/(loss) | 27,494 | (2,860) | | Profit/(loss) before income tax | 27,219 | 9,255 | | **Profit/(loss) for the period** | **20,374** | **6,306** | [Consolidated Balance Sheet](index=9&type=section&id=Consolidated%20Balance%20Sheet) This statement presents a snapshot of the Group's financial position, detailing its assets, liabilities, and equity as of December 31, 2023, compared to June 30, 2023, and December 31, 2022 Balance Sheet Summary (£ thousands) | Item | 31 December 2023 | 31 December 2022 | | :--- | :--- | :--- | | Total Assets | 1,472,012 | 1,426,961[37](index=37&type=chunk) | | Total Equity | 96,017 | 109,752[38](index=38&type=chunk) | | Total Liabilities | 1,375,995 | 1,317,209[38](index=38&type=chunk) | [Consolidated Statement of Cash Flows](index=11&type=section&id=Consolidated%20Statement%20of%20Cash%20Flows) This statement shows the movement of cash and cash equivalents during the period, categorized into operating, investing, and financing activities Q2 FY2024 Cash Flow Highlights (£ thousands) | Item | Three months ended 31 Dec 2023 | Three months ended 31 Dec 2022 | | :--- | :--- | :--- | | Net cash outflow from operating activities | (46,532) | (61,509) | | Net cash outflow from investing activities | (30,627) | (30,503) | | Net cash inflow from financing activities | 59,700 | 99,429 | | **Net (decrease)/increase in cash** | **(18,020)** | **6,768** | [Supplemental Information](index=6&type=section&id=Supplemental%20Information) This section includes definitions and reconciliations of non-IFRS financial measures and key performance indicators [Non-IFRS Measures and Reconciliations](index=6&type=section&id=Non-IFRS%20Measures%20and%20Reconciliations) This section provides definitions for non-IFRS financial measures used in the report, such as Adjusted EBITDA and Adjusted profit/(loss), along with detailed reconciliation tables - Adjusted EBITDA is defined as profit/(loss) for the period before depreciation, amortization, profit/(loss) on disposal of intangible assets, exceptional items, net finance (costs)/income, and tax[25](index=25&type=chunk) Reconciliation to Adjusted EBITDA (Q2, £ thousands) | Metric | Q2 FY2024 | Q2 FY2023 | | :--- | :--- | :--- | | Profit for the period | 20,374 | 6,306 | | Adjustments (Tax, Finance, Amort, etc.) | 70,964 | 41,002 | | **Adjusted EBITDA** | **91,338** | **48,308** | Reconciliation to Adjusted Profit/(Loss) (Q2, £ thousands) | Metric | Q2 FY2024 | Q2 FY2023 | | :--- | :--- | :--- | | Profit/(loss) for the period | 20,374 | 6,306 | | Adjustments (Exceptional items, FX, etc.) | 4,054 | (19,068) | | Adjusted income tax (expense)/credit | (5,130) | 2,680 | | **Adjusted profit/(loss) for the period** | **19,298** | **(10,082)** | [Key Performance Indicators (KPIs)](index=7&type=section&id=Key%20Performance%20Indicators%20%28KPIs%29) For the second quarter, Broadcasting was the largest contributor to revenue at 47.1%, a significant shift from 35.1% in the prior year, reflecting the impact of Champions League participation Revenue Mix (%) - Three Months Ended 31 December | Revenue Stream | 2023 | 2022 | | :--- | :--- | :--- | | Commercial | 31.8% | 47.0% | | Broadcasting | 47.1% | 35.1% | | Matchday | 21.1% | 17.9% | Home Matches Played - First Half of Season | Competition | 2023/24 Season | 2022/23 Season | | :--- | :--- | :--- | | Premier League | 10 | 7 | | UEFA competitions | 3 | 3 | | Domestic Cups | 2 | 2 | - Employee benefit expenses as a percentage of revenue decreased to **42.1%** for the quarter, compared to 46.2% in the prior year quarter[32](index=32&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended 30 June 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Co ...

[Corporate Release and Overview](index=1&type=section&id=Manchester%20United%20PLC%20Reports%20Fourth%20Quarter%20and%20Full%20Year%20Fiscal%202023%20Results) [Key Highlights & Outlook](index=1&type=section&id=Key%20Points) The company achieved record revenues in fiscal 2023, driven by strong Commercial and Matchday performance, and projects record revenues of £650-£680 million for fiscal 2024, reflecting strong on-pitch progress and commercial momentum Fiscal 2024 Guidance | Metric | Guidance Range (in millions) | | :--- | :--- | | Revenue | £650 - £680 | | Adjusted EBITDA | £140 - £165 | - Achieved **record revenues** for fiscal 2023, driven by Commercial and Matchday revenue[2](index=2&type=chunk) - Announced an **industry-leading kit deal with adidas** through 2035 and a new front-of-shirt sponsorship with Qualcomm's Snapdragon brand[2](index=2&type=chunk) - Both men's and women's first teams achieved **significant on-pitch progress**, including Champions League qualification for both[2](index=2&type=chunk) [Key Financials Summary](index=2&type=section&id=Key%20Financials%20(unaudited)) For the full fiscal year 2023, total revenue grew 11.2% to a record £648.4 million, Adjusted EBITDA increased significantly by 91.0% to £154.9 million, and the net loss narrowed by 75.2% to £28.7 million Fiscal Year 2023 vs 2022 Financial Performance (£ million) | Metric | FY 2023 | FY 2022 | Change | | :--- | :--- | :--- | :--- | | Total Revenue | 648.4 | 583.2 | 11.2% | | Adjusted EBITDA | 154.9 | 81.1 | 91.0% | | Net Loss | (28.7) | (115.5) | 75.2% | | Adjusted Net Loss | (42.1) | (34.0) | (23.8)% | Fourth Quarter 2023 vs 2022 Financial Performance (£ million) | Metric | Q4 2023 | Q4 2022 | Change | | :--- | :--- | :--- | :--- | | Total Revenue | 167.3 | 118.5 | 41.2% | | Adjusted EBITDA | 43.2 | (8.4) | 614.3% | | Net Loss | (2.9) | (70.7) | 95.9% | - Non-current borrowings remained constant at **$650.0 million**, with an outstanding revolving credit facility balance of **£100.0 million** as of 30 June 2023[5](index=5&type=chunk)[6](index=6&type=chunk) [Operational and Business Highlights](index=3&type=section&id=Operational%20and%20Business%20Highlights) [Football & Fan Engagement](index=3&type=section&id=Football) The club actively strengthened both the men's and women's squads with new signings and key contract extensions, while expanding fan engagement initiatives globally - The men's squad was strengthened with additions like Mason Mount, Andre Onana, and Rasmus Hojlund, while Marcus Rashford and Diogo Dalot signed new long-term contracts[7](index=7&type=chunk) - The women's squad was significantly reinforced with multiple new signings, including Geyse Da Silva Ferreira and Hinata Miyazawa[7](index=7&type=chunk) - The club delivered a **successful summer tour** with nearly 400,000 supporters in attendance across 8 cities and 5 countries[7](index=7&type=chunk) - The number of official Manchester United Supporters' Clubs reached a **record 289 in 96 countries**[7](index=7&type=chunk) [Facilities - Venue & Operations](index=3&type=section&id=Facilities%20-%20Venue%20%26%20Operations) Fiscal 2023 set new records for match attendance and match-by-match hospitality revenues, with the club continuing to invest in infrastructure upgrades at Old Trafford and Carrington - Achieved **record match attendance and match-by-match hospitality revenues** in fiscal year 2023[8](index=8&type=chunk) - Sold a **record 2.4 million tickets** for the 2022/23 season, with 2023/24 season tickets selling out in record time and over 150,000 supporters on the waiting list[8](index=8&type=chunk) - Ongoing infrastructure upgrades include a new facility for the Women's and Academy teams at Carrington and enhancements at Old Trafford, such as additional rail seats and improved WIFI[8](index=8&type=chunk) [Partnerships](index=3&type=section&id=Partnerships) The club secured major long-term commercial partnerships, highlighted by a global record kit deal extension with adidas and a new strategic front-of-shirt sponsorship with Qualcomm's Snapdragon brand - Announced a **global record kit deal**, extending the partnership with adidas as kit supplier through 2035[9](index=9&type=chunk) - Announced a strategic partnership expansion with Qualcomm's Snapdragon brand to become the **front-of-shirt sponsor** starting with the 2024/25 season[9](index=9&type=chunk) [Digital Products & Experiences](index=4&type=section&id=Digital%20Products%20%26%20Experiences) The club demonstrated strong digital growth, achieving a 21% increase in e-commerce sales and a record 360,000 paid global memberships, believed to be the largest in world sport - E-commerce sales for fiscal 2023 grew by **21%** when excluding the one-off impact from Ronaldo kit sales in the prior year[10](index=10&type=chunk) - Achieved **record sales of global memberships**, reaching 360,000 members for the 2022/23 program, believed to be the largest paid membership program in world sport[10](index=10&type=chunk) - Generated over **318 million digital interactions** and **1.5 billion video views** across global social platforms in the fourth quarter[10](index=10&type=chunk) [Financial Performance Analysis](index=4&type=section&id=Revenue%20Analysis) [Revenue Analysis](index=4&type=section&id=Revenue%20Analysis) Total revenue for fiscal 2023 increased by 11.2% to £648.4 million, driven by a 17.5% rise in Commercial revenue and a 23.4% increase in Matchday revenue, partially offset by a 2.7% decline in Broadcasting revenue [Commercial Revenue](index=4&type=section&id=Commercial%20Revenue) Commercial revenue for the full year increased by 17.5% to £302.9 million, primarily due to a significant 28.1% growth in sponsorship revenue reflecting new agreements and the men's first team's 2022 pre-season tour Full Year Commercial Revenue Breakdown (£ million) | Category | FY 2023 | FY 2022 | Change | | :--- | :--- | :--- | :--- | | Sponsorship | 189.5 | 147.9 | 28.1% | | Retail, Merchandising, etc. | 113.4 | 109.9 | 3.2% | | **Total Commercial** | **302.9** | **257.8** | **17.5%** | [Broadcasting Revenue](index=4&type=section&id=Broadcasting%20Revenue) Broadcasting revenue for the full year decreased by 2.7% to £209.1 million, primarily due to the men's first team's participation in the UEFA Europa League instead of the more lucrative UEFA Champions League - The decrease in annual broadcasting revenue was primarily due to the men's first team participating in the UEFA Europa League compared to the UEFA Champions League in the prior year[13](index=13&type=chunk) - Quarterly broadcasting revenue increased **91.4%** year-over-year, mainly due to playing seven more games and finishing 3rd in the Premier League compared to 6th in the prior year[13](index=13&type=chunk) [Matchday Revenue](index=4&type=section&id=Matchday%20Revenue) Matchday revenue for the full year saw strong growth, increasing by 23.4% to £136.4 million, driven by playing seven more home games across all competitions coupled with high demand for match-by-match hospitality - The **23.4% increase** in annual matchday revenue was due to playing 7 more home games across all competitions and strong demand for hospitality[14](index=14&type=chunk) [Other Financial Information](index=5&type=section&id=Other%20Financial%20Information) Total operating expenses for the year decreased by 1.7%, mainly due to a 13.7% reduction in employee benefit expenses, while net finance costs fell by 65.6% due to favorable foreign exchange movements, and the overall cash position decreased by £45.2 million reflecting investment in the playing squad [Operating Expenses](index=5&type=section&id=Operating%20Expenses) Employee benefit expenses for the year decreased by 13.7% to £331.4 million due to squad turnover and non-participation in the Champions League, while other operating expenses rose by 38.4% to £163.2 million mainly from pre-season tour and increased matchday costs Operating Expenses Breakdown (FY 2023 vs FY 2022) | Expense Category | FY 2023 (£m) | FY 2022 (£m) | Change | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Employee benefit expenses | 331.4 | 384.2 | -13.7% | Squad turnover and no Champions League participation | | Other operating expenses | 163.2 | 117.9 | +38.4% | Pre-season tour and increased matchday costs | [Depreciation, Amortization, and Finance Costs](index=5&type=section&id=Depreciation%2C%20impairment%20and%20amortization) Amortization of player registrations increased by 14.0% to £172.7 million due to continued investment in the first team squad, while net finance costs decreased significantly by 65.6% to £21.4 million due to favorable foreign exchange gains - Amortization for the year was **£172.7 million**, an increase of **14.0%**, due to investment in the first team playing squad[17](index=17&type=chunk) - Net finance costs decreased by **65.6%** to **£21.4 million**, mainly due to favorable unrealized foreign exchange gains on unhedged USD borrowings[17](index=17&type=chunk) [Cash Flows & Balance Sheet](index=5&type=section&id=Cash%20flows) Cash and cash equivalents decreased by £45.2 million during the year, ending at £76.0 million, primarily driven by a net cash outflow from investing activities of £140.2 million for player registrations - Overall cash and cash equivalents decreased by **£45.2 million** in the year, compared to an increase of £10.6 million in the prior year[18](index=18&type=chunk) - Net capital expenditure on intangible assets (player registrations) was **£124.6 million**, an increase of £39.5 million over the prior year[19](index=19&type=chunk) - As of 30 June 2023, cash and cash equivalents were **£76.0 million**, down from £121.2 million, primarily due to investment in the first team playing squad[20](index=20&type=chunk) [Consolidated Financial Statements (Unaudited)](index=10&type=section&id=CONSOLIDATED%20FINANCIAL%20STATEMENTS%20(Unaudited)) [Consolidated Statement of Profit or Loss](index=10&type=section&id=CONSOLIDATED%20STATEMENT%20OF%20PROFIT%20OR%20LOSS) For the twelve months ended June 30, 2023, the company reported total revenues of £648.4 million and a net loss of £28.7 million, a significant improvement from the prior year's net loss of £115.5 million due to higher revenue and substantially lower net finance costs Consolidated Statement of Profit or Loss Summary (in £ thousands) | Line Item | Twelve months ended 30 June 2023 | Twelve months ended 30 June 2022 | | :--- | :--- | :--- | | Revenue | 648,401 | 583,201 | | Operating loss | (11,180) | (87,384) | | Net finance costs | (21,394) | (62,239) | | Loss before tax | (32,574) | (149,623) | | **Loss for the period** | **(28,678)** | **(115,510)** | [Consolidated Balance Sheet](index=11&type=section&id=CONSOLIDATED%20BALANCE%20SHEET) As of June 30, 2023, total assets stood at £1.318 billion, a slight increase from £1.294 billion in the prior year, with intangible assets being the largest component, while total equity decreased to £104.0 million and non-current borrowings decreased in GBP terms due to currency fluctuations Consolidated Balance Sheet Summary (in £ thousands) | Category | As of 30 June 2023 | As of 30 June 2022 | | :--- | :--- | :--- | | **Total Assets** | **1,317,944** | **1,293,665** | | *Non-current assets* | 1,124,212 | 1,056,503 | | *Current assets* | 193,732 | 237,162 | | **Total Equity and Liabilities** | **1,317,944** | **1,293,665** | | *Total Equity* | 103,950 | 127,508 | | *Total Liabilities* | 1,213,994 | 1,166,157 | [Consolidated Statement of Cash Flows](index=13&type=section&id=CONSOLIDATED%20STATEMENT%20OF%20CASH%20FLOWS) For the fiscal year, net cash inflow from operating activities was stable at £95.8 million, but a significant net cash outflow of £140.2 million from investing activities, primarily for player acquisitions, resulted in an overall net decrease in cash and cash equivalents of £45.2 million Consolidated Statement of Cash Flows Summary (in £ thousands) | Cash Flow Activity | Twelve months ended 30 June 2023 | Twelve months ended 30 June 2022 | | :--- | :--- | :--- | | Net cash inflow from operating activities | 95,769 | 96,371 | | Net cash outflow from investing activities | (140,160) | (93,431) | | Net cash (outflow)/inflow from financing activities | (1,952) | 5,040 | | **Net (decrease)/increase in cash** | **(45,204)** | **10,565** | | **Cash and cash equivalents at end of period** | **76,019** | **121,223** | [Supplemental Information](index=8&type=section&id=SUPPLEMENTAL%20NOTES) [Non-IFRS Measures and Reconciliations](index=8&type=section&id=Non-IFRS%20Measures%3A%20Definitions%20and%20Use) The company utilizes non-IFRS measures like Adjusted EBITDA and Adjusted Net Loss to offer a clearer perspective on underlying operational performance by excluding specific items, with Adjusted EBITDA for fiscal 2023 reaching £154.9 million, a 91.0% increase - Adjusted EBITDA is defined as loss for the period before depreciation, amortization, profit on disposal of intangible assets, net finance costs, exceptional items, and tax, used as a measure of comparative operating performance[24](index=24&type=chunk)[25](index=25&type=chunk) Reconciliation of Loss for the period to Adjusted EBITDA (in £ thousands) | Description | Twelve months ended 30 June 2023 | Twelve months ended 30 June 2022 | | :--- | :--- | :--- | | Loss for the period | (28,678) | (115,510) | | Adjustments (Tax, Finance, Amortization, etc.) | 183,606 | 196,659 | | **Adjusted EBITDA** | **154,928** | **81,149** | Reconciliation of Loss for the period to Adjusted Loss (in £ thousands) | Description | Twelve months ended 30 June 2023 | Twelve months ended 30 June 2022 | | :--- | :--- | :--- | | Loss for the period | (28,678) | (115,510) | | Adjustments (Exceptional items, FX, Tax, etc.) | (13,465) | 81,549 | | **Adjusted loss for the period** | **(42,143)** | **(33,961)** |

Exhibit 99.1 CORPORATE RELEASE 27 June 2023 Manchester United PLC Reports Third Quarter Fiscal 2023 Results Key Points · For fiscal 2023, the Company raises its previous revenue guidance to a record £630 million to £640 million and raises its adjusted EBITDA guidance to £140 million to £150 million · The men’s first team ended the 2022/23 domestic season in 3 place and secured a return to the UEFA Champions League for the 2023/24 season · Signed new men’s contracts with Luke Shaw, Alejandro Garnacho and Dio ...

Exhibit 99.1 CORPORATE RELEASE 30 March 2023 Manchester United PLC Reports Second Quarter Fiscal 2023 Results Key Points · The men’s first team won the Carabao Cup on 26 February at Wembley for the 6time; the team also advances to the FA Cup Semi-finals · For the 2022/23 domestic and European seasons to date, the men’s first team is currently in third place in the Premier League and has advanced to the UEFA Europa League Quarter-finals · For the 2022/23 Women's Super League season, the women's team is curre ...

Manchester United plc (NYSE:MANU) Q4 2022 Earnings Conference Call September 22, 2022 8:00 AM ET Company Participants Corinna Freedman - Head of Investor Relations Richard Arnold - Chief Executive Officer John Murtough - Football Director Collette Roche - Chief Operating Officer Philip Lynch - Chief Executive Officer of Media Victoria Timpson - Chief Executive Officer, Alliances & Partnerships Cliff Baty - Chief Financial Officer Conference Call Participants Randy Konik - Jefferies Xian Siew - BNP Paribas O ...

Financial Performance - Total revenue for the fiscal year ended June 30, 2022, was £583.2 million, an increase from £494.1 million in 2021[173]. - Commercial revenue reached £257.8 million for the year ended June 30, 2022, compared to £232.2 million in 2021[170]. - Broadcasting revenue was £214.9 million for the year ended June 30, 2022, down from £254.8 million in 2021, impacted by COVID-19[171]. - Matchday revenue significantly increased to £110.5 million in 2022, compared to £7.1 million in 2021, as all matches operated at full capacity[172]. - Total operating expenses rose by 28.6% to £692.6 million from £538.4 million in 2021[339]. - Employee benefit expenses increased by 19.1% to £384.1 million, up from £322.6 million[339]. - Profit on disposal of intangible assets was £22.0 million, a 197.3% increase from £7.4 million in the previous year[339]. - Total revenue for the year ended June 30, 2022, was £583.2 million, an increase of £89.1 million, or 18.0%, compared to the previous year[340]. - Commercial revenue for the year ended June 30, 2022, was £257.8 million, an increase of £25.6 million, or 11.0%, over the previous year[341]. - Broadcasting revenue for the year ended June 30, 2022, was £214.9 million, a decrease of £39.9 million, or 15.7%, compared to the previous year[342]. - Matchday revenue for the year ended June 30, 2022, was £110.5 million, an increase of £103.4 million, or 1,456.3%, due to the return of fans[343]. - Total operating expenses for the year ended June 30, 2022, were £692.6 million, an increase of £154.2 million, or 28.6%, over the previous year[344]. - Employee benefit expenses for the year ended June 30, 2022, were £384.2 million, an increase of £61.6 million, or 19.1%, over the previous year[345]. - Amortization for the year ended June 30, 2022, was £151.5 million, an increase of £27.1 million, or 21.8%, over the previous year[347]. - Exceptional items for the year ended June 30, 2022, were a cost of £24.7 million, compared to £nil in the previous year[348]. - Net finance costs for the year ended June 30, 2022, were £62.2 million, compared to net finance income of £12.9 million for the previous year[350]. - Cash resources as of June 30, 2022, were £121.2 million, with access to undrawn revolving facilities of £200 million[354]. Revenue Breakdown - Total Commercial revenue for the year ended 30 June 2022 was £257.8 million[315]. - Total sponsorship revenue for the year ended 30 June 2022 was £147.9 million[316]. - The Premier League represented 25.1%, 35.9%, and 23.2% of total revenue for the years ended 30 June 2022, 2021, and 2020, respectively[310]. - The second largest customer, adidas, represented 13.1%, 15.7%, and 15.3% of total revenue for the years ended 30 June 2022, 2021, and 2020, respectively[310]. - Broadcasting revenue is derived from centrally negotiated domestic and international television rights, with income shared among Premier League clubs based on performance[246]. Audience and Engagement - The club's games during the 2021/22 season generated a cumulative audience reach of 2.9 billion viewers, averaging over 59.8 million viewers per game[166]. - Total social connections grew to over 220.8 million as of June 30, 2022, a 25.4% increase from 176.1 million in 2021[166]. - As of June 30, 2022, the company had over 220.8 million social connections, including approximately 75 million on Facebook, over 58.8 million on Instagram, and over 36.2 million on Twitter[266]. - For the 2021/22 season, the company generated over 2.8 billion interactions across all social media platforms[266]. - The company launched a free global mobile application at the start of the 2018/19 season, enhancing e-commerce functionality and user engagement[263]. - The mobile application includes features such as messaging, matchday audio streaming, and access to the Premier League archive collection, driving additional data acquisition[263]. - The company aims to deepen relationships with fans through a CRM database, enabling targeted communications and upsell opportunities[267]. - The digital media strategy includes localized content in multiple languages to enhance engagement with followers globally[261]. - MUTV is available in 230 markets globally, offering a variety of content including live football and behind-the-scenes coverage[268]. - The membership program saw over 276,000 members at the end of the 2021/22 season, a 95.7% year-on-year increase[273]. Sponsorship and Partnerships - The club has secured new partnerships, including a training shirt partnership with Tezos and a principal shirt partnership with TeamViewer, enhancing engagement through AR solutions[189]. - The company has developed a dedicated sales team to enhance sponsorship opportunities, focusing on larger global brands rather than regional partnerships[227]. - The company believes there is significant growth potential in financial services products, including credit and debit cards, as part of its commercial strategy[234]. - The company retains full control over its retail, merchandising, apparel, and product licensing, generating revenue from a wide range of products globally[237]. - The company aims to expand its e-commerce capabilities by improving digital shopping experiences and targeted merchandise offerings[244]. Community and Social Responsibility - The Manchester United Foundation has impacted over 75,000 young people through community projects and raised over £50,000 for charitable causes[289]. - The club launched the SEE RED campaign to confront racism and discrimination, promoting fan responsibility in reporting incidents[294]. - The club's equality, diversity, and inclusion strategies are embedded throughout its business operations[296]. - The club has frozen general admission season ticket prices for the 2022/23 season for the eleventh consecutive year to support fans[275]. Football Operations - Manchester United operates under FIFA, UEFA, and FA regulations, ensuring compliance with international and domestic football governance[208][209][210]. - The Premier League allows four teams from Manchester United to qualify for the Champions League, enhancing competitive opportunities[209]. - The club's football operations include a global scouting network and a focus on developing players through its youth academy[211]. - The men's first team participates in the Premier League, FA Cup, EFL Cup, and international competitions like the Champions League[212]. - The club's women's team aims to compete at the highest level in Europe, with players from the academy forming a core part of the team[220]. - Manchester United's football operations are supported by a team of over 225 individuals, including coaches, scouts, and medical staff[213]. - The company has enhanced its scouting infrastructure over the past 5 years, establishing a presence in all major footballing nations to improve talent recruitment[223]. - The youth academy has included a homegrown player in every matchday squad for the last 85 years, contributing to talent flow to the men's first team[221]. - The Under 18 men's team won a record 11th FA Youth Cup in May 2022, with the final attended by over 67,000 fans[222]. Infrastructure and Facilities - The company has invested significantly in its performance center, enhancing training facilities with advanced sports and science equipment to ensure players achieve peak physical condition[224]. - The club's commitment to enhancing the fan experience includes investments in facilities and premium seating at Old Trafford[180]. - The club's stadium, Old Trafford, has a capacity of 74,240 and welcomed back 10,000 supporters for the final home match of the 2020/21 season[271]. - Matchday revenue has been enhanced by restructuring stadium facilities, focusing on higher-priced hospitality options[275]. - The average attendance for home Premier League matches has exceeded 99% since the 1997/98 season, indicating high capacity utilization[272]. Compliance and Regulations - The break-even test result submitted in March 2022 was positive, indicating compliance with Premier League Profitability and Sustainability Rules[286]. - UEFA's updated regulations allow a larger deficit of up to €60 million over a three-year period, with specific financial criteria[282]. - UEFA's monitoring process includes breach indicators that trigger additional reporting requirements, ensuring financial compliance[278]. - Total fixed distribution amounts for the Champions League are €1.101 billion, for the Europa League are €255.8 million, and for the Europa Conference League are €188 million[251]. - The total market pool for the Champions League is €300.3 million per annum, while for the Europa League it is €139.5 million per annum, and for the Europa Conference League it is €23.5 million per annum[251]. - UEFA announced a total revenue shortfall of approximately €566 million due to COVID-19, representing 16% of total revenues, which will be recouped over five seasons from 2019/20 to 2023/24[255]. - A projected annual reduction of approximately 3.5% in distributions to clubs is expected through to the 2023/24 season[257].