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Manchester United reveal losses of £79.6m

align=justify>Manchester United FC has announced pre-tax losses of £79.6m despite turnover at the club increasing to £286.4m.

The news comes a week after neighbours Manchester City revealed losses of £121 for the same period.

Matchday turnover also fell to £100.2m from £108.8m which the club attributed to an earlier Champions League exit than the previous season.

Both commercial and media turnover rose due to increased sponsorship revenues and higher TV payments from UEFA respectively. 

The club also paid £67m in one off finance charges linked to the club’s £504m bond issue as well as £40m in interest payments.

The news is unlikely to stop ongoing speculation about the club’s future with the Glazer family insisting they will not listen to offers and reiterating the club is not for sale.

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