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As featured on NewsNow: Football news

Really? Man Utd blame huge Trump tax cuts for cash slide

Manchester United blame US President Donald Trump for losing millions this past year.

The Old Trafford outfit released their results yesterday in a statement which showed the club had made a loss of £29million for the second quarter of the financial year.

But that came after the Premier League giants had written off close to £49m due to Trump's recent tax law changes.

“The reduction in tax rate has resulted in a non-cash accounting charge of £48.8m to be recorded in the quarter," said Cliff Baty, United's chief financial officer.

“It's important to reiterate this is a non-cash accounting charge only which has no impact on our financial competitiveness nor our ability to meet Financial Fair Play regulations."

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Paul Vegas

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