United blame Trump for slump
MANCHESTER UNITED have blamed US President Donald Trump after slumping to a £21.1million loss. Trump’s US tax cuts forced the club, owned by the American Glazer family and listed on the New York Stock Exchange, to write off £48.8m, putting them in the red for the six months to December 31. Trump slashed US corporation tax rates to get the economy moving. It will trigger a longer-term boost but the cut has proved a headache for big businesses. Many companies, like United, had planned to offset losses in the past against future profits to reduce tax bills. Lower tax rates mean the saving is smaller. United revenues were still up 9.6 per cent at £304.9m after an £18.1m jump in TV turnover.