Football finance expert baffled how Manchester United avoided PSR breaches due to special allowances


 
 
 
 
 
 

A football finance expert has said that he can’t explain how Manchester United avoided breaking PSR.

Stefan Borson said that the latest three-season period (2021/22, 2022/23 and 2023/24) would/should have seen them break the rules.

However, Borson saying that Manchester United were allowed two special allowances that made the difference.

The football finance expert stating that these allowances are ‘relatively exceptional’ when it comes to what is allowed.

Whilst clubs such as Everton and Forest have been hit with points deductions and others such as Newcastle United have had to sell promising players to stay within PSR limitations, Manchester United have stayed the right side of PSR due to these bafflingly allowed allowances.

Stefan Borson speaking to Talksport about Manchester United and PSR – 7 August 2024:

“Manchester United is very interesting because we do have quite a lot of information about Manchester United because of their quarterly report in the US and so we know that they’ve told us that the end of year results will have a £660million top line and about £140m EBITDA.

“It also tells us certain things about their costs. Bottom line is when you drag that down on the three-year assessment, Manchester United would have failed PSR for the season just gone, save for two things.

“One, they were given, it appears, an exceptional allowance of £40m for Covid in 2022, which no other club had.

“The most any other club had was about £1m in that year. We dont know how they got it.

“On top of that it seems they’ve been given allowance for around £35m of exceptional costs relating to the share sale to (INEOS CEO Sir Jim) Ratcliffe which to be honest, the Glazers should have paid that themselves anyway given they were the main beneficiary.

“But we know from the numbers that it was £35m and the only way in which they can make the 23/24 PSR numbers and this is not just my view but the view of multiple people who run the numbers, is by having these allowances.

“The allowances are relatively exceptional in the game.”