Manchester United on Thursday announced a net loss of £115.5 million ($130.4 million, 132.2 million euros) for the 2021/22 season even though revenues rose to £583 million as coronavirus restrictions eased.

The financial year to June 30, 2022 also brought a 22 per cent rise in debt and a 19 per cent increase in wages.

The 20-time English champions’ net debt increased from £419.5 million in 2021 to £514.9 million.

United attributed the rise in debt mainly to the fall of the pound which increased the value of US dollar borrowings. 

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