By David Owen
February 14 – Manchester United appear to have paid José Mourinho and his team close to £20 million in compensation after they left the club in December.
United’s half-yearly results statement, published on Thursday, includes an exceptional item of £19.6 million. This is said to relate to “compensation to the former manager and certain members of the coaching staff for loss of office.”
The club, whose revival under caretaker and former United striker Ole Gunnar Solskjaer was stopped in its tracks this week by Paris Saint-Germain, reported a 15% decline in pre-tax profit for the six months to end-December from £54.9 million to £46.4 million.
This was achieved on revenue ahead 7% at £343.6 million, thanks mainly to broadcasting income which jumped 26% due largely to UEFA’s new Champions League deal. Matchday revenue was down nearly 7% at £55.3 million.
Net finance costs more than doubled from £5.1 million to £11.5 million. The club put net debt at end-December at £317.7 million. The consolidated balance-sheet showed borrowings of £508 million. A half-yearly cash dividend of nine US cents a share was paid on 4 January.
Ed Woodward, executive vice chairman, said the appointment of Solskjaer and his team had had a “positive impact throughout the club.
“We are delighted with the improvement in the team’s performances since December and we look forward to a strong finish to the 18/19 season”, Woodward added.
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