Manchester United have announced record revenues of £661.8m for the 2023-24 season. However, net losses have widened to £113.2m after the Red Devils continued to invest in the squad.
In three of the last four seasons, Man United have recorded losses of more than £90m, with their last profit coming in 2019. But sources insist the club remains committed to complying with the Premier League's profit and sustainability regulations as well as UEFA's financial fair play rules.
The Premier League is allowed to lose £105m over three years, but has provisions to allow losses including investment in infrastructure and youth development.
Berrada said: "We are all laser-focused on creating a bright future with football success at the heart of it. Manchester United is working towards financial sustainability and making operational changes to be more efficient. We are focusing our resources on improving performance on the pitch.
Our clear objective is to return the club to the forefront of European football. Everyone at the club is united behind a clear strategy to deliver sustainable success both on and off the pitch, in the best interests of our fans, shareholders and many other stakeholders."
Man United spent more than £180m to recruit 5 new players in the summer of 2024, including Joshua Zirkzee, Matthijs de Ligt, Noussair Mazraoui, Leny Yoro and Manuel Ugarte.
The heavy investment in the squad has increased the pressure on coach Erik ten Hag to improve performances on the pitch, especially after the disastrous 0-3 home defeat to Liverpool.
However, Berrada has reaffirmed the club's commitment to the Dutchman ahead of the crucial Premier League, Carabao Cup and Europa League fixtures ahead.
"We have strengthened the squad with five talented players and implemented a new football leadership structure to better support the coach," Berrada added.
