Man Utd ‘preparing to raid European giants’ for new arrival despite announcing massive financial loss

Manchester United is gearing up for a major new addition following the announcement of a substantial financial loss in their latest club accounts.

The club reported a net loss of £113.2 million for the fiscal year ending June 30, a significant increase from losses of £28.7 million in 2022/23 and £115.5 million in 2021/22. Over the past five years, their total losses have exceeded £370 million.

Despite these alarming figures, Manchester United is not expected to breach the Premier League’s Profit and Sustainability Rules (PSR) as not all expenses are included in these calculations.

In response to their financial challenges, the club plans to bring in Marc Armstrong, who is set to leave his role as Chief Revenue Officer at Paris Saint-Germain to join Manchester United, now owned by INEOS. Armstrong, known for his work with the FA, NFL, and NBA, was instrumental in boosting PSG’s revenues to meet Financial Fair Play regulations. His anticipated move will reunite him with Jean-Claude Blanc, who has recently been appointed as a director at Manchester United.

The club has also seen a major boardroom shake-up. Omar Berrada has transitioned from Manchester City to become Manchester United’s CEO, with Jason Wilcox and Dan Ashworth also taking on key roles. Berrada outlined his vision, emphasizing a focus on returning the club to the pinnacle of European football.

“We’ve had a busy off-season, with successful training camps for both our men’s and women’s teams,” Berrada said. “We’ve strengthened our men’s team with five new players and established a new football leadership structure to support our manager, Erik ten Hag.”

Berrada also highlighted the additions of Dan Ashworth as sporting director and Jason Wilcox as technical director, praising their experience and expertise. He noted that the club has also expanded its women’s team and invested in upgraded training facilities at Carrington. Additionally, Manchester United has renewed its primary partnership with Snapdragon for two more years.

As Berrada steps into his role, he emphasized the club’s commitment to financial sustainability and operational efficiency, aiming to enhance on-field performance and build a promising future. The club’s focus remains on restoring Manchester United to the top of European football, benefiting fans, shareholders, and stakeholders alike.