It came after net losses of £115.5 million and £28.7 million in the two years prior, raising questions about the club’s adherence to football’s profit and sustainability rules.Premier League teams are only permitted to lose £105 million over the course of three rolling years, but they are also permitted to use those losses to fund investment on the women’s and junior teams, as well as infrastructure improvements at Old Trafford.
United said in a statement: “The club remains committed to, and in compliance with, both the Premier League’s Profit and Sustainability Rules and UEFA’s Financial Fair Play Regulations.”
Although it is difficult for the team to be competitive on the field, the results for the year ending June 30, 2016, did reveal a record yearly revenue of £661.8m, highlighting the club’s lasting attraction to sponsors and fans.
While United defeated Manchester City to win the men’s FA Cup, they ended ninth in the Premier League, 31 points behind their cross-town rivals and four-time defending champions, and missed out on the lucrative Champions League qualifying.
Although the Glazer family still has ultimate ownership over the team, INEOS purchased a 27.7% share.
