Manchester United gave us a glimpse at the financial impact of the pandemic. It showed that the biggest club in England was not exempt from the fallout.
According to Forbes, there is one Premier League club that was in the top ten of the most valuable sports teams in 2019. Manchester United Football Club.
The Red Devils were, at the time, valued at $3.81 billion and were ranked sixth. Due to a run of poor performances and institutional changes, the clubs’ value had dropped by 8% from the previous year.
United was the top English club on the Forbes’ 2019 list of biggest football clubs. They were ranked third in the world behind Real Madrid and Barcelona, but significantly ahead of Bayern Munich.
There were six English Top Flight clubs listed in the top 10 in the rankings. Besides Man United there were Man City (fifth), Chelsea (sixth), Arsenal (seventh), Liverpool (eighth), and Tottenham (ninth). Each of these teams all had listed valuations of over $1.62 billion.
That was 2019
One of the most popular memes on the internet is comparing 2020, with the pandemic being the grim central theme, to various evil characters from TV and movies. Ramsey Bolton and King Joffrey from Game of Thrones, as well as Dolores from Harry Potter, have all been featured.
This year has been that horrific. For the Premier League, the shut down of play has been a financial disaster. Clubs became disconnected from most of their primary revenue streams.
It has been well documented how clubs furloughed their non-playing staff while some continued to pay them through the crisis. However, what had not been heard, but certainly theorized, was what the exact monetary impact of the shutdown has been in actual figures.
Last week, United publically announced in real time, quantifiable figures how the shutdown had impacted the biggest club in England on the balance sheet. United also provided clues as to how they may conduct business in the upcoming transfer market.