Managing Your Cash Flow
Manchester United accounts for two thirds of Premier League unpaid invoices
2 min read
23 May 2017
Chelsea may have won the Premier League for 2017, but it’s Manchester United that comes out on top for its mass of unpaid invoices.
The Premier League season 2016/2017 came to an end on Sunday 21 May, at which time Chelsea came out on top – however, when it comes to unpaid invoices, Manchester United is the true champion.
That’s according to data from Creditsafe’s Prompt Payment Premier League research of unpaid invoices. It turns out English clubs in the Premier League have £1.3m worth of unpaid invoices between them.
Seemingly, Northern Powerhouse clubs have a problem managing finances, as places 18, 19 and 20, the relegation zone, are occupied by Manchester City, Manchester United and Sunderland respectively.
By far, the Old Trafford club dominated for unpaid invoices, and accounts for a whopping 66 per cent of the overdue payments in the Premier League with a total of £857,183.
Rachel Mainwaring, operations director at Creditsafe UK, said: “In recent years we have seen the emergence of a late payment culture in the UK. Even in the Premier League, with all the money that is available to its top clubs, late payment is rife.
“This is a problem for businesses dealing with the wealthy premier league clubs, who find themselves with a potentially dangerous financial shortfall.
“As this year’s Premier League season comes to an end, it’s interesting to see that lower placing clubs pay their bills the fastest. In fact, excluding Sunderland, it’s the top ranking clubs of 2017, with turnovers over £250 million, that pay the latest and finish in the relegation zone of our alternative premier league table.”
Arsenal was also guilty of unpaid invoices and ranked in at 17. And even though the club, combined with Manchester teams City and United have annual revenue of £987m, suppliers are paid eight days slower than the 13-day Premier League average.
Sunderland, meanwhile, was ranked bottom for settling unpaid invoices 25 days after agreed terms. This clashes with the pattern of smaller clubs including Middleborough, Swansea City and Bournemouth ranking in the top three positions for fast payments, albeit still overdue.
Of the top six Premier League teams, Tottenham Hotspur, which finished second for the season, was the speediest for paying overdue invoices.
Catch the full rundown below.