Omar Berrada, the CEO of Manchester United, has pledged to strive for the team's financial stability in the wake of the Red Devils' concerning 2023–24 season report.
In their yearly financial records, United recorded losses of £113.2 million last season despite record income, continuing their five-year streak without turning a profit.
The Premier League's Profit & Sustainability Rules and UEFA's Financial Fair Play would seem to be violated by United after three years of losses totalling £254.7 million, but the team is adamant that they would follow all rules.
A statement accompanying the financial report noted, "It has been a busy off season for the club with successful training camps for both our men's and women's teams," written by Berrada. "To better assist our manager, Erik ten Hag, we have added five dynamic players to our men's first team and established a new football leadership structure.
Our team will gain a great deal of depth with the addition of two highly experienced and well-respected experts, Dan Ashworth as sporting director and Jason Wilcox as technical director. Our women's team now has six players, and we are making investments to guarantee that all of our teams have access to top-notch training facilities at a completely refurbished Carrington.
We are also happy to announce that, following a great start, we have extended our primary relationship with Snapdragon for an additional two years, on top of the original three-year contract.
With football success at its core, we are all very focused on working together to build a bright future as I take on my new role as chief executive officer of this great club.
"To make sure we are allocating our resources to improving on-pitch performance, we are implementing changes to our operations to make them more efficient and striving for greater financial sustainability.
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