Grant Thornton loses Man Utd to PwC
Grant Thornton has lost the audit of Manchester United plc to PricewaterhouseCoopers, bringing a ten-year relationship to an end.
The news came as Manchester United revealed a fall in pre-tax profits to £16.7m, compared with £22.4m the previous year. A fall in gate receipts following the club’s withdrawal from the FA cup and a hike in players’ wages contributed to the decline in profits.
Manchester-based PwC partner, Roger Goddard, said: ‘We are delighted to be appointed to Manchester United and look forward to working with this prestigious client.’
In a statement Grant Thornton said the firm would cease to handle the financial affairs of Manchester United Football plc with effect from November 2000 and that the decision was taken by directors at the following a competitive tender.
The firm had been the auditor for the club since taking it to flotation in 1991.