Man United financial results released one day earlier due to US-based company's blunder

Manchester United were left red-faced on Thursday after their financial results were posted a day earlier than decided due to an error. The Red Devils were set to publish the results of their first quarter at the New York Stock Exchange at noon on Friday but posted it early on Thursday due to a test run that went awry. The Man United finances have taken a major hit due to the coronavirus pandemic, with matches being played behind closed doors. 

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Man United finances posted early by Toppan Merrill, as Red Devils feel affects of pandemic 

US-based company Toppan Merrill are tasked with the handling of Man United finances and the company made a major error on Thursday by releasing the first-quarter report on Thursday. Reports suggest that the company made a mistake with a test run, which led to the accidental release of the financial details in the public domain. Man United were forced to act early due to the error, as the concerning numbers hit the New York Stock Exchange. The Red Devils have been left devasted by the financial results of the quarter, as the club continues to bear the full effect of the coronavirus pandemic.

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The finances revealed that Manchester United suffered massively with commercial, matchday and total revenues all taking a significant hit. The Premier League giants posed an operating loss of £27.1m, but have breathed a sigh of relief with the renewal of three Man United sponsorships and record e-commerce sales. Manchester United's net debt, a legacy of the Glazer family's heavily-leveraged takeover, was up to £440.6m, however, the gross principal debt remains unaltered.

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Whilst the Red Devils are better equipped than others to survive the current pandemic, it doesn't make them immune to suffer from financial losses. As per Manchester Evening News, Manchester United are also faced with a rebate bill of £330 million, cut across the 20 Premier League clubs, with broadcasters commanding a part-refund for the behind-closed-doors product. The Red Devils witnessed the biggest fall in matchday revenue by 92.3 per cent, ith matches being played behind closed doors.

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With Old Trafford being the biggest stadium in the Premier League and Man United offering a vast corporate hospitality provision, the 13-time Champions will suffer the most, until fans can return to the stadium. Man United's wage bill also rose by £1.7 million, having achieved Champions League qualification last season and due to their summer signings in Alex Telles, Edinson Cavani, Donny van de Beek and Facundo Pellistri. A major chunk of wages was cleared after the sale of Alexis Sanchez, who joined Inter Milan for free in the summer. 

(Image Courtesy: Manchester United Instagram)