Manchester United lost more than £2million-per-week last season despite the return of fans to Old Trafford - with the club's debt rising substantially.
The Old Trafford club reported a net loss of £115.5m for the season and posted an operating loss of £87.4m for the year to June 30, mostly due to spiralling player wages.
Net debt increased by £95.4m to £514.9m - something which will infuriate fans who have protested against the club's American owners, the Glazer family.
The club blamed that increase on the use of a £100m credit facility to offset the losses inflicted by the Covid-19 pandemic and the empty stadiums that resulted.