Manchester United plc Q4 FY2021 earnings call

• Ed Woodward highlighted the club's resilience during the pandemic, the return of fans to Old Trafford, squad strengthening with signings like Ronaldo, Varane, etc., and commitment to women's team. - Richard Arnold discussed commercial activities including resumption of operations, sponsorships (new principal shirt partner TeamViewer), e-commerce success, and foundation work like 'All Red All Equal' initiative. - Cliff Baty reviewed financial results, balance sheet details, and mentioned cash balances and net debt figures.

Total revenues for fiscal 2021 were £494.1 million, which was £14.9 million lower than the prior year due to the pandemic. Commercial revenues were £232.2 million, with sponsorship revenues at £140.2 million (down £42.5 million from the prior year) and merchandising and licensing revenues at £92 million (down £4.3 million). Broadcasting revenues were £254.8 million, an increase of £114.6 million, while matchday revenues were £7.1 million, a reduction of £82.7 million due to matches played behind closed doors.

• No revenue or adjusted EBITDA guidance for fiscal year 2022 due to COVID uncertainties. - Hopeful Matchday revenues will increase with full crowds this season. - Commercial operations confident despite no summer tour in FY22; wages expected to increase ~20% due to squad investment. - Committed net player CapEx in FY22 is ~£80 million with amortization costs of £150 million.

• Impact of COVID-19 pandemic on revenues. - Uncertainties in public health circumstances affecting fan attendance and club operations. - Fluctuations in transfer fees and wages affecting financials.

Q: Congrats on signing Cristiano Ronaldo. Talk about his impact on commercial revenues and China situation.

A: Cliff Baty said to consider pre-COVID levels and exclude summer tour effects; Richard Arnold mentioned results don't include Cristiano's effect yet, and China engagement with partnerships like Harves is strong.

Q: Qualitative aspects of Cristiano's impact on team and metrics.

A: Richard Arnold reiterated updates pre-date Cristiano's season start, focus on pitch impact now, and commercial positive but quantitative update in next results.

Q: Summer tour for FY22 and planning for next season.

A: Cliff Baty clarified no summer tour in FY22; Richard Arnold said pre-season tours planned considering pandemic developments for next season preparation