Man Utd post £113M loss despite record revenue

Manchester United is striving for greater "financial sustainability," as stated by new CEO Omar Berrada, following a reported loss exceeding £110 million ($144 million) in their recent financial results.

The club revealed record annual revenues of £661.8 million for the year ending June 30, as disclosed on Thursday.

Nevertheless, net losses increased to £113.2 million ($148.2 million) due to heightened investment in the team.