Manchester United deems its financial losses ‘not sustainable’ and defends midseason ticket price hikes | Football News
Manchester United has told fans it cannot sustain its current financial losses and risks breaching Premier League rules after facing a backlash over rising ticket prices. The record 20-time English champion, which is co-owned by the American Glazer family and British billionaire Jim Ratcliffe, said it had lost more than 300 million pounds ($371 million) over the past three years. “This is not sustainable and if we do not act now we are in danger of failing to comply with PSR/FFP (financial) requirements in future years and significantly impacting our ability to compete on the pitch,” United wrote in a letter to fan group The 1958 and seen by The Associated Press. Supporters have hit out after United raised its lowest-priced tickets to 66 pounds ($81) partway through the season. Previously, the lowest priced ticket was 40 pounds ($49). “We will get back to a cash positive position as soon as possible and we will have to make some difficult choices to get there,” United wrote. It said it did “not expect fans to make …
