Manchester United's Q2 results reveal cost of sacking Jose Mourinho
Manchester United spent £19.6m on the sacking of manager Jose Mourinho before Christmas, the football club's second-quarter results revealed on Thursday.
Manchester Utd (New) A
€14.93
19:59 22/03/17
MANCHESTER UTD A
n/a
00:00 08/11/24
The cost is listed under “exceptional items” in its accounts, with compensation for the former manager and certain members of the coaching staff for loss of office on 18 December.
Mourinho was replaced by caretaker boss Ole Gunnar Solskjaer and Ed Woodward, the executive vice chairman of the club said: "The appointment of Ole and Mike (Phelan) as caretaker manager and assistant manager, working with Kieran, Michael and Emilio, has had a positive impact throughout the club.”
Despite the extra costs the results also revealed the club managed to reach record revenues for the quarter of £208.6m, a 17.6% increase on a year ago. The club also reported adjusted EBITDA of £104.3m, an increase of 28.4% since last year.
Operating profit was up 4.3% from £42.2m last year to £44m.
The club still expect end-of-year revenues of between £615m and £630m.
The club’s stock was up 0.2% on the NYSE on Thursday at the time of writing to $19.87.