Manchester United expect a loss of up to 67m compared to last year due to failure to qualify for the Champions League.
The club released their first quarter financial results and are forecasting revenues of 560m to 580m, a significant drop on the 627.1m raked in during 2018-19.
United's latest figures also revealed that wages are down by 6.8m (8.8%) year on year - thanks to the club not having to pay Champions League bonuses, while debt has shot up by up by 137.3m to 384.5m - which is largely down to cash spent on buying players.
The debt that exists as a legacy from the Glazer family's leveraged takeover of the club remains at the same level. United finished sixth last season and qualified for the Europa League.
Elsewhere, commercial and sponsorship revenue is up, while broadcasting revenue dropped significantly by 9.9m again down to non-participation in the Champions League.
