Manchester United have blamed Donald Trump's United States tax reforms for notable losses made in the second half of 2017.
The U.S. president introduced reforms that saw the corporate tax rate cut from 35 per cent to 21 per cent, and American-owned United were forced to make an accounting write-off of £48.8 million as a result, per Sky News.
The Premier League outfit, owned by the Glazer family and listed on the New York Stock Exchange, recorded a half-year loss of £12.87 million, but the club's chief financial officer, Cliff Baty, said the tax changes would benefit United in the long term, per Sky News:
"[The tax changes] should be beneficial to the club in the long term; however, we are still working through the details of the potential impact of the more complex aspect of the reforms with our advisers.