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09-06-2025
- Entertainment
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Dortmund and Real Madrid legends deliver six-goal charity spectacle
Tobin Heath Breaks Down The World Sevens Football Experience | Full Time Podcast It has been billed as women's football 'reimagined,' but with the inaugural edition behind us, what really is World Sevens Football (W7F) offering to the sport's global ecosystem? This week on Full Time, hosts Tamerra Griffin and Meg Linehan are joined by USWNT legend Tobin Heath to discuss her role in developing the innovative seven-a-side tournament as chair of the player advisory council. Why was W7F such a breath of fresh air for players, and how can it disrupt the status quo? Then The Athletic's Charlotte Harpur, joins the podcast to give her perspective from covering the W7F on the media side and the concerns regarding its hand-picked competing teams. Plus, Charlotte gives her inside view on Tuesday's sudden news that Mary Earps has retired from international soccer. 42:03 Now Playing Paused Ad Playing
Yahoo
06-06-2025
- Business
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Manchester United Plc Reports Third Quarter Fiscal 2025 Results
Key Points The Men's first team reached the final of the UEFA Europa League and finished the 2024/25 season in 15th position; The Women's team reached the FA Cup final and finished the 2024/25 Women's Super League season in third position, qualifying for the UEFA Women's Champions League for the 2025/26 season; The Women's team reached the final of the inaugural World Sevens Football tournament in Estoril, Portugal; The Men's first team has undertaken its first ever post-season tour, with games in Kuala Lumpur and Hong Kong; The Men's first team also announced its preparations for the 2025/26 season, including matches in New Jersey, Chicago and Atlanta as part of the Premier League's Summer Series; The club announced its ambition to build a new world-class 100,000 seater stadium as the centerpiece of a regeneration project across the Old Trafford area with conceptual designs released; Work continues at our Carrington training ground as part of the £50 million investment in a new high-performance focused training facility, expected to be finished in advance of the 2025/26 season; The academy achieved a 2nd place finish in the U18 Premier League North and Chido Obi Martin, Harry Amass and Tyler Fredricson all made first-team debuts in the second half of the season; Total revenues increased 17.4% in the quarter with increases across all three key revenue streams, driven by additional matches played in the quarter as a result of strong performance in the UEFA Europa League and high demand for the Club's hospitality offering; The Company recorded an operating profit £0.7m in the quarter compared to an operating loss of £66.2m in 3Q24; Adjusted EBITDA for the quarter was £51.2 million, up 274% on Q3 fiscal 2024; The club announced measures to improve financial sustainability and enhance operational efficiency as part of a wider transformation plan, with benefits expected to be realised from Q1 of fiscal 2026; For fiscal 2025, the Company tightens its revenue guidance to £660m to £670m and expects to be at the higher end of this range; the Company also raises its Adjusted EBITDA guidance to between £180 million and £190 million. MANCHESTER, England, June 06, 2025--(BUSINESS WIRE)--Manchester United (NYSE: MANU; the "Company," the "Group" and the "Club") today announced financial results for the 2025 fiscal third quarter ended 31 March 2025. Management Commentary Omar Berrada, Chief Executive Officer, commented, "We were proud to reach the final of the UEFA Europa League, but ultimately, we were disappointed to finish as runner-up in Bilbao. We had a difficult season in the Premier League, which we all know fell below our standards and we have a clear expectation of improvement next season. We have been pleased with the performance of our women's team, with a third placed league finish, enabling us to qualify for the UEFA Champions League and once again reaching the FA Cup Final. We followed this by reaching the final of the inaugural World Sevens Series. We extended the contract of Head Coach, Marc Skinner, reflecting the excellent work he has done with the team this season. "We remain focused on infrastructure, with the redevelopment of our Carrington Training Complex continuing and on track, which will be the heart of our club, providing world class facilities for all our teams and our staff. We have also announced our aspiration to pursue a new 100,000 seat stadium, sitting at the heart of the regeneration of the Old Trafford area, which would be a catalyst for growth and investment in our local community. We are continuing to work with all the relevant stakeholders, including central Government, to support their vision for growth." Outlook For fiscal 2025, the Company tightens its revenue guidance to £660m to £670m and expects to be at the higher end of this range. The Company also raises its Adjusted EBITDA guidance to between £180 million and £190 million. The club remains committed to, and in compliance with, both the Premier League's Profit and Sustainability Rules and UEFA's Financial Fair Play Regulations. Phasing of Premier League games Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total 2024/25 season 6 13 10 9 38 2023/24 season 7 13 9 9 38 2022/23 season 6 10 10 12 38 Key Financials (unaudited) £ million (except loss per share) Three months ended31 March Nine months ended31 March 2025 2024 Change 2025 2024 Change Commercial revenue 74.7 69.6 7.3% 245.1 231.7 5.8% Broadcasting revenue 41.3 37.5 10.1% 134.2 183.3 (26.8%) Matchday revenue 44.5 29.6 50.3% 123.0 104.5 17.7% Total revenue 160.5 136.7 17.4% 502.3 519.5 (3.3%) Adjusted EBITDA(1) 51.2 13.7 273.7% 145.3 128.3 13.3% Operating profit/(loss) 0.7 (66.2) 101.1% (3.2) (36.9) 91.3% Loss for the period (i.e. net loss) (2.7) (71.5) 96.2% (29.1) (76.9) 62.2% Basic loss per share (pence) (1.57) (43.12) 96.4% (17.09) (46.87) 63.5% Adjusted loss for the period (i.e. adjusted net loss)(1) (5.5) (40.6) 86.5% (12.1) (29.9) 59.5% Adjusted basic loss per share (pence)(1) (3.19) (24.47) 87.0% (7.07) (18.22) 61.2% Non-current borrowings in USD (contractual currency)(2) $650.0 $650.0 0.0% $650.0 $650.0 0.0% (1) Adjusted EBITDA, adjusted loss for the period and adjusted basic loss per share are non-IFRS measures. See "Non-IFRS Measures: Definitions and Use" on page 6 and the accompanying Supplemental Notes for the definitions and reconciliations for these non-IFRS measures and the reasons we believe these measures provide useful information to investors regarding the Group's financial condition and results of operations. (2) In addition to non-current borrowings, the Group maintains a revolving credit facility which varies based on seasonal flow of funds. The outstanding balance of the revolving credit facility as of 31 March 2025 was £210.0 million and total current borrowings including accrued interest payable was £212.3 million. Revenue Analysis Commercial Commercial revenue for the quarter was £74.7 million, an increase of £5.1 million, or 7.3%, over the prior year quarter. Sponsorship revenue was £42.5 million, an increase of £1.8 million, or 4.4%, over the prior year quarter, primarily due to the new Qualcomm front of shirt sponsorship agreement, partially offset by other changes in our commercial agreements. Retail, Merchandising, Apparel & Product Licensing revenue was £32.2 million, an increase of £3.3 million, or 11.4%, over the prior year quarter, primarily due to the launch of our new e-commerce model in partnership with SCAYLE. Broadcasting Broadcasting revenue for the quarter was £41.3 million, an increase of £3.8 million, or 10.1%, over the prior year quarter, primarily due to the men's first team playing 4 additional matches in UEFA competitions in the current year quarter, partially offset by 1 less match played in domestic cup competitions versus the prior year quarter. Matchday Matchday revenue for the quarter was £44.5 million, an increase of £14.9 million, or 50.3%, over the prior year quarter, due to playing 4 more home matches compared to the prior year quarter, alongside strong demand for our hospitality offering. Other Financial Information Operating expenses Total operating expenses for the quarter were £162.1 million, a decrease of £41.6 million, or 20.4%, over the prior year quarter. Employee benefit expenses Employee benefit expenses for the quarter were £71.2 million, a decrease of £20.0 million, or 21.9%, over the prior year quarter. This is primarily due to the impact of transactions made during the January transfer window, the men's first team participating in the UEFA Europa League rather than the UEFA Champions League in the prior year and reduced non-playing staff costs as a result of the club's restructuring process. Other operating expenses Other operating expenses for the quarter were £38.1 million, an increase of £6.3 million, or 19.8%, over the prior year quarter. This is primarily due to increased matchday costs associated with playing 4 more home games in the quarter, compared to the prior year quarter and additional costs associated with our new e-commerce model, partially offset by a reduction in costs as a result of the company's focus on improving operating efficiency. Depreciation and amortization Depreciation for the quarter was £4.2 million, compared to £4.1 million in the prior year quarter. Amortization for the quarter was £45.9 million, a decrease of £0.4 million, or 0.9%, over the prior year quarter. The unamortized balance of registrations on 31 March 2025 was £513.7 million. Exceptional items Exceptional items for the quarter were a cost of £2.7 million, as a result of compensation for loss of office costs incurred in relation to the restructuring of the club's operations. Exceptional items for the prior year quarter were a cost of £30.3 million. This comprised costs incurred in relation to the sale of 27.7% of the Group's voting rights to Trawlers Limited, an entity wholly owned by Sir Jim Ratcliffe. These voting rights have been subsequently transferred from Trawlers Limited to INEOS Limited. Profit on disposal of intangible assets Profit on disposal of intangible assets for the quarter was £2.3 million, compared to a profit of £0.8 million for the prior year quarter. Net finance costs Net finance costs for the quarter were £3.8 million, compared to £17.3 million in the prior year quarter. The movement was primarily driven by a favourable swing in foreign exchange rates in the current quarter (gain on re-translation of £7.3 million), compared to an unfavourable swing in foreign exchange rates in the prior year quarter (loss on re-translation of £2.6 million). Income tax The income tax credit for the quarter was £0.4 million, compared to a credit of £12.1 million in the prior year quarter. Cash flows Overall cash and cash equivalents (including the effects of exchange rate movements) decreased by £22.5 million in the quarter to 31 March 2025, compared to an increase of £4.2 million in the prior year quarter. Net cash inflow from operating activities for the quarter was £22.3 million, compared to a net cash outflow in the prior year quarter of £15.1 million. This is primarily due to increased matchday and broadcasting income compared to the prior year quarter, in addition to a reduced cost base, as described above. Net capital expenditure on property, plant and equipment for the quarter was £16.9 million, an increase of £13.9 million over the prior year quarter, due to the improvement works taking place to our Carrington training facility. Net capital expenditure on intangible assets for the quarter was £31.3 million, an increase of £15.5 million over the prior year quarter due to investment in the first team playing squad. Net cash outflow from financing activities for the quarter was £0.1 million, compared to a net cash inflow of £38.4 million in the prior year quarter. The prior year quarter saw £158.5 million of proceeds from the issue of shares as part of the transaction agreement with Trawlers Limited, partially offset by a £120.0 million repayment of our revolving facilities. Balance sheet Our USD non-current borrowings as of 31 March 2025 were $650 million, which was unchanged from 31 March 2024. As a result of the year-on-year change in the USD/GBP exchange rate from 1.2632 at 31 March 2024 to 1.2913 at 31 March 2025, our non-current borrowings when converted to GBP were £500.9 million, compared to £511.3 million at the prior year quarter. In addition to non-current borrowings, the Group maintains a revolving credit facility which varies based on seasonal flow of funds. Current borrowings at 31 March 2025 were £212.3 million compared to £143.0 million at 31 March 2024. As of 31 March 2025, cash and cash equivalents were £73.2 million compared to £67.0 million at the prior year quarter. This movement is detailed further in the Statement of Cash Flows on page 11 of this release. About Manchester United Manchester United is one of the most popular and successful sports teams in the world, playing one of the most popular spectator sports on Earth. Through our 147-year football heritage we have won 69 trophies, enabling us to develop what we believe is one of the world's leading sports and entertainment brands with a global community of 1.1 billion fans and followers. Our large, passionate and highly engaged fan base provides Manchester United with a worldwide platform to generate significant revenue from multiple sources, including sponsorship, merchandising, product licensing, broadcasting and matchday initiatives which in turn, directly fund our ability to continuously reinvest in the club. Cautionary Statements This press release contains forward‑looking statements. You should not place undue reliance on such statements because they are subject to numerous risks and uncertainties relating to the Company's operations and business environment, all of which are difficult to predict and many are beyond the Company's control. These statements often include words such as "may," "might," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "seek," "believe," "estimate," "predict," "potential," "continue," "contemplate," "possible" or similar expressions. The forward-looking statements contained in this press release are based on our current expectations and estimates of future events and trends, which affect or may affect our businesses and operations. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although the Company believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect its actual financial results or results of operations and could cause actual results to differ materially from those in these forward-looking statements. These factors are more fully discussed in the "Risk Factors" section and elsewhere in the Company's Registration Statement on Form F-1, as amended (File No. 333-182535) and the Company's Annual Report on Form 20-F (File No. 001-35627) as supplemented by the risk factors contained in the Company's other filings with the Securities and Exchange Commission. Non-IFRS Measures: Definitions and Use 1. Adjusted EBITDA Adjusted EBITDA is defined as loss for the period before depreciation, amortization, exceptional items, profit on disposal of intangible assets, net finance costs and tax. Adjusted EBITDA is useful as a measure of comparative operating performance from period to period and among companies as it is reflective of changes in pricing decisions, cost controls and other factors that affect operating performance, and it removes the effect of our asset base (primarily depreciation and amortization), material volatile items (primarily profit on disposal of intangible assets and exceptional items), capital structure (primarily finance costs), and items outside the control of our management (primarily taxes). Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation, or as a substitute for an analysis of our results as reported under IFRS as issued by the IASB. A reconciliation of loss for the period to adjusted EBITDA is presented in supplemental note 2. 2. Adjusted loss for the period (i.e. adjusted net loss) Adjusted loss for the period is calculated, where appropriate, by adjusting for charges/credits related to exceptional items, foreign exchange gains/losses on unhedged US dollar denominated borrowings (including foreign exchange losses immediately reclassified from the hedging reserve following change in contract currency denomination of future revenues), and fair value movements on embedded foreign exchange derivatives and foreign currency options, adding/subtracting the actual tax expense/credit for the period, and subtracting/adding the adjusted tax expense/credit for the period (based on a normalized tax rate of 21%; 2024: 21%). The normalized tax rate of 21% is the current US federal corporate income tax rate. In assessing the comparative performance of the business, in order to get a clearer view of the underlying financial performance of the business, it is useful to strip out the distorting effects of the items referred to above and then to apply a 'normalized' tax rate (for both the current and prior periods) of the weighted average US federal corporate income tax rate of 21% (2024: 21%) applicable during the financial year. A reconciliation of loss for the period to adjusted loss for the period is presented in supplemental note 3. 3. Adjusted basic and diluted loss per share Adjusted basic and diluted loss per share are calculated by dividing the adjusted loss for the period by the weighted average number of ordinary shares in issue during the period. Adjusted diluted loss per share is calculated by adjusting the weighted average number of ordinary shares in issue during the period to assume conversion of all dilutive potential ordinary shares. There is one category of dilutive potential ordinary shares: share awards pursuant to the 2012 Equity Incentive Plan (the "Equity Plan"). Share awards pursuant to the Equity Plan are assumed to have been converted into ordinary shares at the beginning of the financial year. Adjusted basic and diluted loss per share are presented in supplemental note 3. Key Performance Indicators Three months ended 31 March Nine months ended 31 March 2025 2024 2025 2024 Revenue Commercial % of total revenue 46.6% 50.9% 48.8% 44.6% Broadcasting % of total revenue 25.7% 27.4% 26.7% 35.3% Matchday % of total revenue 27.7% 21.7% 24.5% 20.1% 2024/25 Season 2023/24 Season 2024/25 Season 2023/24 Season Home Matches Played PL 5 4 15 14 UEFA competitions 2 - 5 3 Domestic Cups 2 1 4 3 Away Matches Played PL 5 5 14 15 UEFA competitions 2 - 5 3 Domestic Cups 1 3 2 3 Other Employee benefit expenses % of revenue 44.4% 66.7% 46.6% 53.2% CONSOLIDATED STATEMENT OF PROFIT OR LOSS (unaudited; in £ thousands, except per share and shares outstanding data) Three months ended31 March Nine months ended31 March 2025 2024 2025 2024 Revenue from contracts with customers 160,564 136,693 502,329 519,545 Operating expenses (162,128 ) (203,732 ) (544,206 ) (587,155 ) Profit on disposal of intangible assets 2,271 790 38,662 30,670 Operating profit/(loss) 707 (66,249 ) (3,215 ) (36,940 ) Finance costs (13,783 ) (18,377 ) (44,749 ) (53,720 ) Finance income 10,019 1,057 12,018 1,506 Net finance costs (3,764 ) (17,320 ) (32,731 ) (52,214 ) Loss before income tax (3,057 ) (83,569 ) (35,946 ) (89,154 ) Income tax credit 347 12,069 6,820 12,271 Loss for the period (2,710 ) (71,500 ) (29,126 ) (76,883 ) Basic earnings per share: Basic loss per share (pence) (1.57 ) (43.12 ) (17.09 ) (46.87 ) Weighted average number of ordinary shares used as the denominator in calculating basic loss per share (thousands) 172,353 165,823 170,459 164,040 Diluted earnings per share: Diluted loss per share (pence) (1) (1.57 ) (43.12 ) (17.09 ) (46.87 ) Weighted average number of ordinary shares and potential ordinary shares used as the denominator in calculating diluted loss per share (thousands) (1) 172,353 165,823 170,459 164,040 (1) For the three and nine months ended 31 March 2025 and the three and nine months ended 31 March 2024, potential ordinary shares are anti-dilutive, as their inclusion in the diluted loss per share calculation would reduce the loss per share, and hence have been excluded. CONSOLIDATED BALANCE SHEET (unaudited; in £ thousands) As of 31 March2025 30 June2024 31 March2024 ASSETS Non-current assets Property, plant and equipment 280,008 256,118 254,908 Right-of-use assets 7,394 8,195 7,913 Investment properties 19,503 19,713 19,783 Intangible assets 942,507 837,564 877,283 Deferred tax assets 25,336 17,607 11,010 Trade receivables 47,679 27,930 24,694 Derivative financial instruments 191 380 667 1,322,618 1,167,507 1,196,258 Current assets Inventories 12,003 3,543 3,757 Prepayments 19,460 18,759 17,235 Contract assets – accrued revenue 40,882 39,778 53,887 Trade receivables 123,122 36,999 37,673 Other receivables 1,696 2,735 1,835 Derivative financial instruments 21 1,917 1,539 Cash and cash equivalents 73,211 73,549 66,994 270,395 177,280 182,920 Total assets 1,593,013 1,344,787 1,379,178 CONSOLIDATED BALANCE SHEET (continued) (unaudited; in £ thousands) As of 31 March2025 30 June2024 31 March2024 EQUITY AND LIABILITIES Equity Share capital 56 55 55 Share premium 307,345 227,361 227,361 Treasury shares (21,305) (21,305) (21,305) Merger reserve 249,030 249,030 249,030 Hedging reserve (550) (1,000) (308) Accumulated losses (337,161) (309,251) (271,628) 197,415 144,890 183,205 Non-current liabilities Contract liabilities - deferred revenue 6,234 5,347 6,834 Trade and other payables 181,866 175,894 188,581 Borrowings 500,883 511,047 511,296 Lease liabilities 7,752 7,707 7,603 Derivative financial instruments 3,272 4,911 3,648 700,007 704,906 717,962 Current liabilities Contract liabilities - deferred revenue 171,472 198,628 102,643 Trade and other payables 298,435 249,030 218,042 Income tax liabilities 1,022 427 851 Borrowings 212,318 35,574 142,960 Lease liabilities 836 934 730 Derivative financial instruments 4,333 2,603 1,830 Provisions 7,175 7,795 10,955 695,591 494,991 478,011 Total equity and liabilities 1,593,013 1,344,787 1,379,178 CONSOLIDATED STATEMENT OF CASH FLOWS (unaudited; in £ thousands) Three months ended31 March Nine months ended31 March 2025 2024 2025 2024 Cash flows from operating activities Cash generated from/(used in) operations (see supplemental Note 4) 34,767 (2,584 ) 2,168 (14,725 ) Interest paid (12,952 ) (13,082 ) (31,723 ) (31,838 ) Interest received 667 281 2,423 853 Tax (paid)/refunded (165 ) 268 (464 ) 5,524 Net cash inflow/(outflow) from operating activities 22,317 (15,117 ) (27,596 ) (40,186 ) Cash flows from investing activities Payments for property, plant and equipment (16,856 ) (3,109 ) (34,091 ) (14,949 ) Payments for intangible assets (36,063 ) (18,453 ) (239,720 ) (186,395 ) Proceeds from sale of intangible assets 4,803 2,684 44,141 36,266 Net cash outflow from investing activities (48,116 ) (18,878 ) (229,670 ) (165,078 ) Cash flows from financing activities Proceeds from issue of shares - 158,542 79,985 158,542 Proceeds from borrowings 30,000 - 230,000 160,000 Repayment of borrowings (30,000 ) (120,000 ) (50,000 ) (120,000 ) Principal elements of lease payments (102 ) (180 ) (293 ) (680 ) Net cash (outflow)/inflow from financing activities (102 ) 38,362 259,692 197,862 Effects of exchange rate movements on cash and cash equivalents 3,570 (182 ) (2,764 ) (1,623 ) Net (decrease)/increase in cash and cash equivalents (22,331 ) 4,185 (338 ) (9,025 ) Cash and cash equivalents at beginning of period 95,542 62,809 73,549 76,019 Cash and cash equivalents at end of period 73,211 66,994 73,211 66,994 SUPPLEMENTAL NOTES 1 General information Manchester United plc (the "Company") and its subsidiaries (together the "Group") is a men's and women's professional football club together with related and ancillary activities. The Company incorporated under the Companies Law (as amended) of the Cayman Islands. 2 Reconciliation of loss for the period to adjusted EBITDA Three months ended31 March Nine months ended31 March 2025£'000 2024£'000 2025£'000 2024£'000 Loss for the period (2,710 ) (71,500 ) (29,126 ) (76,883 ) Adjustments: Income tax credit (347 ) (12,069 ) (6,820 ) (12,271 ) Net finance costs 3,764 17,320 32,731 52,214 Profit on disposal of intangible assets (2,271 ) (790 ) (38,662 ) (30,670 ) Exceptional items 2,658 30,340 25,833 39,935 Amortization 45,867 46,262 148,560 143,602 Depreciation 4,254 4,144 12,803 12,399 Adjusted EBITDA 51,215 13,707 145,319 128,326 3 Reconciliation of loss for the period to adjusted loss for the period and adjusted basic and diluted loss per share Three months ended31 March Nine months ended31 March 2025£'000 2024£'000 2025£'000 2024£'000 Loss for the period (2,710 ) (71,500 ) (29,126 ) (76,883 ) Adjustments: Exceptional items 2,658 30,340 25,833 39,935 Foreign exchange (gains)/losses on unhedged US dollar denominated borrowings (7,285 ) 2,641 (8,033 ) 3,062 Fair value movement on embedded foreign exchange derivatives 348 (777 ) 2,079 8,332 Income tax credit (347 ) (12,069 ) (6,820 ) (12,271 ) Adjusted loss before income tax (7,336 ) (51,365 ) (16,067 ) (37,825 ) Adjusted income tax credit (using a normalized tax rate of 21% (2024: 21%)) 1,834 10,787 4,017 7,943 Adjusted loss for the period (i.e. adjusted net loss) (5,502 ) (40,578 ) (12,050 ) (29,882 ) Adjusted basic loss per share: Adjusted loss per share (pence) (3.19 ) (24.47 ) (7.07 ) (18.22 ) Weighted average number of ordinary shares used as the denominator in calculating adjusted basic loss per share (thousands) 172,353 165,823 170,459 164,040 Adjusted diluted loss per share: Adjusted diluted loss per share (pence) (1) (3.19 ) (24.47 ) (7.07 ) (18.22 ) Weighted average number of ordinary shares and potential ordinary shares used as the denominator in calculating adjusted diluted loss per share (thousands) (1) 172,353 165,823 170,459 164,040 (1) For the three and nine months ended 31 March 2025 and the three and nine months ended 31 March 2024, potential ordinary shares are anti-dilutive, as their inclusion in the adjusted diluted loss per share calculation would reduce the loss per share, and hence have been excluded. 4 Cash generated from operations Three months ended31 March Nine months ended31 March 2025£'000 2024£'000 2025£'000 2024£'000 Loss for the period (2,710 ) (71,500 ) (29,126 ) (76,883 ) Income tax credit (347 ) (12,069 ) (6,820 ) (12,271 ) Loss before income tax (3,057 ) (83,569 ) (35,946 ) (89,154 ) Adjustments for: Depreciation 4,254 4,144 12,803 12,399 Amortization 45,867 46,262 148,560 143,602 Profit on disposal of intangible assets (2,271 ) (790 ) (38,662 ) (30,670 ) Net finance costs 3,764 17,320 32,731 52,214 Non-cash employee benefit expense – equity-settled share-based payments 419 431 1,216 1,907 Foreign exchange losses on operating activities 2,883 411 2,731 888 Reclassified from hedging reserve (1,067 ) 2 1,876 - Changes in working capital: Inventories 1,420 267 (8,460 ) (592 ) Prepayments 7,806 9,522 (1,607 ) (1,311 ) Contract assets – accrued revenue 18,965 7,932 (1,104 ) (10,555 ) Trade receivables (38,112 ) 41,849 (87,355 ) (2,506 ) Other receivables 326 230 1,039 8,093 Contract liabilities – deferred revenue 7,836 (48,225 ) (26,269 ) (66,806 ) Trade and other payables (13,876 ) 1,980 1,044 (29,859 ) Provisions (390 ) (350 ) (429 ) (2,375 ) Cash generated from/(used in) operations 34,767 (2,584 ) 2,168 (14,725 ) View source version on Contacts Investors: Roger BellChief Financial Media: Toby CraigChief Communications Sign in to access your portfolio
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04-06-2025
- Sport
- Yahoo
New Angel City coach Alex Straus sees communication as key to building winning culture
New Angel City coach Alex Straus said he values strong communication with players as he pushes to succeed. (Al Seib/For The Times) Alexander Straus was fewer than two weeks from his first training session as Angel City FC coach. Yet, Angel City president and co-founder Julie Uhrman wanted to see her new manager at work. She flew to Portugal, where Straus was completing his three-season stint as FC Bayern Munich coach — a club the 49-year-old Norwegian led to three consecutive Frauen-Bundesliga titles and a 57-7-2 league record. Advertisement As Uhrman watched Straus coach Bayern Munich at the inaugural World Sevens Football tournament, she already was familiar with his technical acumen that was on display en route to a championship victory over Manchester United. That was not a surprise. But what caught Uhrman's attention was Straus' relationships with his players. Angel City coach Alex Straus speaks to reporters during his first news conference while club president and co-founder Julie Uhrman looks on and laughs Wednesday in Thousand Oaks. (Al Seib/For The Times) 'What I saw was something that you don't get in an interview process and you don't read on the [curriculum vitae,]' Uhrman said. 'The connection he had with his teams was palpable. The way that they would celebrate him, the joy that they brought him, and vice versa, was just something you can't learn in an interview process and it's something that's so critical to Angel City.' Advertisement So, when Straus, reserved and quiet until he opened his mouth, began to speak during his introductory news conference Wednesday morning as the third Angel City head coach in four seasons since inception — with Uhrman and sporting director Mark Parsons bookending him at the podium — he leaned on his beliefs. How Straus wants Angel City to play on the pitch, is the same as how he wants to interact with his players in the locker room — and the state-of-the-art performance center on Cal Lutheran University's campus. 'My philosophy is centered around people,' said Straus, who asked the media to 'bear with' his English after spending four years in Germany. 'I'm here to facilitate for our players to be able to go out on a pitch, have a clear plan and know how to execute it.' Read more: Angel City hires Bayern Munich's Alexander Straus as new head coach Advertisement Straus continued: 'I need to know people, and I need to know what makes them tick. So how can I get the best out of Sarah Gorden or Christen Press or Riley Tiernan or Alyssa Thompson? How can I get the best out of them?' Earlier in his career, Straus said he overly cared about trophies, medals and success. In 2018, he said his worldview shifted. Straus — who said he considered previous coaching opportunities in America, but didn't feel the timing was right — realized he needed to craft bonds and relationships with his players to cultivate a positive team culture, one that could lead to championships. Uhrman saw the bonds on display in Portugal while Straus was still with Bayern Munich and Parsons has watched the baby steps Straus is taking with Angel City in his first few days as official coach. 'Through this process, Meeting 1 to Meeting 3, I just didn't think this person existed,' Parsons said, adding that during the coaching search he spoke to Straus' former players and staff. 'I really mean that I didn't believe this type of quality existed, and I couldn't be happier that we've got him here.' Advertisement Read more: Not done yet: Christen Press embracing her role as Angel City's elder stateswoman What stood out to Parsons, he said, was that even players who didn't play much under Straus — who may have left for better opportunities — would still speak positively about the clarity, confidence that Angel City's new coach provided them. Straus — and the Angel City backroom staff — are well aware that winning isn't an overnight process. The club sits in seventh place in NWSL standings with a 4-2-4 record. In some matches, Angel City has exerted control and played the style Parsons said he wants to see asserted. But in other matches, such as recent defeats to Bay FC and Racing Louisville, Angel City has faltered — often losing despite controlling possession. Uhrman stressed she wanted a coach who could help the team bounce back from defeat, or setbacks. She and Parsons believe Straus can do that. He doesn't take falling short lightly. When pushed on his UEFA Women's Champions League record since 2022 on Wednesday during a side media session, Straus spent six-and-a-half minutes breaking down why Bayern Munich fell short in the quarterfinals or group stages, adding what he learned from each losing experience. Advertisement Straus said he's always open to talking. Angel City players, however, will have only a few more days to get to know the new coach before Straus takes the touchline Saturday at BMO Stadium against the Chicago Stars. 'One thing is to win one year, one game,' Straus said. "But it needs to be consistent, and it needs to be built on a foundation where you are always the ones that have been spoken about when it comes to challenging for winning the championship. 'That's why we are here, and that's what we want to do.' Get the best, most interesting and strangest stories of the day from the L.A. sports scene and beyond from our newsletter The Sports Report. This story originally appeared in Los Angeles Times.
Los Angeles Times
04-06-2025
- Sport
- Los Angeles Times
New Angel City coach Alex Straus sees communication as key to building winning culture
Alexander Straus was fewer than two weeks from his first training session as Angel City FC coach. Yet, Angel City president and co-founder Julie Uhrman wanted to see her new manager at work. She flew to Portugal, where Straus was completing his three-season stint as FC Bayern Munich coach — a club the 49-year-old Norwegian led to three consecutive Frauen-Bundesliga titles and a 57-7-2 league record. As Uhrman watched Straus coach Bayern Munich at the inaugural World Sevens Football tournament, she already was familiar with his technical acumen that was on display en route to a championship victory over Manchester United. That was not a surprise. But what caught Uhrman's attention was Straus' relationships with his players. 'What I saw was something that you don't get in an interview process and you don't read on the [curriculum vitae,]' Uhrman said. 'The connection he had with his teams was palpable. The way that they would celebrate him, the joy that they brought him, and vice versa, was just something you can't learn in an interview process and it's something that's so critical to Angel City.' So, when Straus, reserved and quiet until he opened his mouth, began to speak during his introductory news conference Wednesday morning as the third Angel City head coach in four seasons since inception — with Uhrman and sporting director Mark Parsons bookending him at the podium — he leaned on his beliefs. How Straus wants Angel City to play on the pitch, is the same as how he wants to interact with his players in the locker room — and the state-of-the-art performance center on Cal Lutheran University's campus. 'My philosophy is centered around people,' said Straus, who asked the media to 'bear with' his English after spending four years in Germany. 'I'm here to facilitate for our players to be able to go out on a pitch, have a clear plan and know how to execute it.' Straus continued: 'I need to know people, and I need to know what makes them tick. So how can I get the best out of Sarah Gorden or Christen Press or Riley Tiernan or Alyssa Thompson? How can I get the best out of them?' Earlier in his career, Straus said he overly cared about trophies, medals and success. In 2018, he said his worldview shifted. Straus — who said he considered previous coaching opportunities in America, but didn't feel the timing was right — realized he needed to craft bonds and relationships with his players to cultivate a positive team culture, one that could lead to championships. Uhrman saw the bonds on display in Portugal while Straus was still with Bayern Munich and Parsons has watched the baby steps Straus is taking with Angel City in his first few days as official coach. 'Through this process, Meeting 1 to Meeting 3, I just didn't think this person existed,' Parsons said, adding that during the coaching search he spoke to Straus' former players and staff. 'I really mean that I didn't believe this type of quality existed, and I couldn't be happier that we've got him here.' What stood out to Parsons, he said, was that even players who didn't play much under Straus — who may have left for better opportunities — would still speak positively about the clarity, confidence that Angel City's new coach provided them. Straus — and the Angel City backroom staff — are well aware that winning isn't an overnight process. The club sits in seventh place in NWSL standings with a 4-2-4 record. In some matches, Angel City has exerted control and played the style Parsons said he wants to see asserted. But in other matches, such as recent defeats to Bay FC and Racing Louisville, Angel City has faltered — often losing despite controlling possession. Uhrman stressed she wanted a coach who could help the team bounce back from defeat, or setbacks. She and Parsons believe Straus can do that. He doesn't take falling short lightly. When pushed on his UEFA Women's Champions League record since 2022 on Wednesday during a side media session, Straus spent six-and-a-half minutes breaking down why Bayern Munich fell short in the quarterfinals or group stages, adding what he learned from each losing experience. Straus said he's always open to talking. Angel City players, however, will only have a few more days to get to know the new coach before Straus takes the touchline Saturday at BMO Stadium against the Chicago Stars. 'One thing is to win one year, one game,' Straus said. 'But it needs to be consistent, and it needs to be built on a foundation where you are always the ones that have been spoken about when it comes to challenging for winning the championship.' 'That's why we are here, and that's what we want to do.'
Yahoo
04-06-2025
- Entertainment
- Yahoo
Fox honored at USWNT camp after UWCL glory with Arsenal
Tobin Heath Breaks Down The World Sevens Football Experience | Full Time Podcast It has been billed as women's football 'reimagined,' but with the inaugural edition behind us, what really is World Sevens Football (W7F) offering to the sport's global ecosystem? This week on Full Time, hosts Tamerra Griffin and Meg Linehan are joined by USWNT legend Tobin Heath to discuss her role in developing the innovative seven-a-side tournament as chair of the player advisory council. Why was W7F such a breath of fresh air for players, and how can it disrupt the status quo? Then The Athletic's Charlotte Harpur, joins the podcast to give her perspective from covering the W7F on the media side and the concerns regarding its hand-picked competing teams. Plus, Charlotte gives her inside view on Tuesday's sudden news that Mary Earps has retired from international soccer. 42:03 Now Playing Paused Ad Playing
