Man Utd dodged PSR breach after claiming £40million of Covid-related losses from Premier League
RED DEVILS chiefs will avoid a financial rap — after claiming £40million of Covid-related losses.
Football finance expert Stefan Borson had told talkSPORT only “relatively exceptional” allowances would prevent Manchester United breaching Profit and Sustainability Rules.
This was for the period that ended last season.
Borson said their £40m Covid claim for 2021-22 was way bigger than rivals.
He warned without that leeway, and being allowed to omit the £35m costs of Ineos’ deal to buy into the club, United would break the £105m limit for losses over a three-year period.
But SunSport understands they were not the only team to claim big Covid losses, even after the pandemic ended, to avoid a PSR breach.
Although some clubs like United declared those losses in publicly-available accounts, others submitted private Covid figures.
Premier League bosses accepted United had lost £40m in 2021-22 when still the highest-earning club in England.
Some sponsors failed to meet payments or ended partnerships due to their own pandemic-hit finances. Lack of a 2021 summer tour also hurt United.
In February, Sir Jim Ratcliffe’s Ineos sealed a £1.03billion deal to buy a stake from the Glazers. The club said they incurred £35m in fees and costs.
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United believe this was not part of the football business and can be omitted from PSR calculations.
It is thought Chelsea may have taken the same approach with costs from their own 2022 takeover.
But strict confidentiality around PSR means details only come to light if a club are charged.
A United spokesperson said: “We’re fully compliant with the PSR rules.”
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