Sunday 23 April 2017

Schweinsteiger no longer a write-off in United's books

Manchester United's German midfielder Bastian Schweinsteiger. Photo: Paul Ellis/AFP/Getty Images
Manchester United's German midfielder Bastian Schweinsteiger. Photo: Paul Ellis/AFP/Getty Images

Jamie Holland

Bastian Schweinsteiger has officially returned to the fold at Manchester United after the midfielder was 'written back' into the club's latest accounts.

The former Germany international was demoted to training with the U-23s and not considered to be part of the first-team squad by Jose Mourinho at the start of the season.

The club subsequently wrote Schweinsteiger off in financial results published last September, listing an exceptional cost of £6.7m "related to a registrations' impairment charge regarding a reduction in the carrying value of a player no longer considered to be a member of the first team playing squad".

No longer considered as a club asset, let alone a first-team squad member, Schweinsteiger's Old Trafford career was thought to be over. However, the former Bayern Munich midfielder was named in Mourinho's squad for November's League Cup quarter-final against West Ham and appeared as an 86th-minute substitute.

Schweinsteiger has since made two further appearances, in the 4-0 FA Cup wins over Reading and Wigan.

In the latest set of results, Schweinsteiger's return is listed as an exceptional credit of £4.8m, "relating to a reversal of a registrations' impairment charge for a player now considered to be re-established as a member of the first team playing squad".

Elsewhere in the results, United's debt was found to have risen by 27.1pc to £409.3m - an increase blamed on sterling's relative weakness to the dollar in the post-Brexit economy.

Despite the increase in arrears, United remain on course to post a record total revenue of £540m for the current financial year.

Although commercial revenues rose by only 1.1pc in the last quarter, broadcast income increased sharply by 40.8 per cent to £52.5m, courtesy of the Premier League's latest bumper television deal. Match-day revenues, meanwhile, rose by 27pc due to more fixtures at Old Trafford in the same period.

Irish Independent

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