United post record revenues

Manchester United will "invest in the squad"after posting record revenues for the third quarter of the financial year.

Last Updated: 15/05/14 at 12:54 Post Comment

Ed Woodward (l): Impressive year over year growth

Ed Woodward (l): Impressive year over year growth

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United reported revenues of £115.5million for the quarter, up 26 per cent, mainly due to rises in income from Premier League broadcasting money and sponsorship deals.

United are expected to announce next week that Dutch coach Louis van Gaal is to be their new manager, but no mention was made of the appointment in the report.

Ed Woodward, United's executive vice-chairman, said in a statement: "We once again generated record revenues... as all of our businesses delivered impressive year over year growth.

"This puts us in a healthy financial position to continue to invest in the squad. Everyone at the club is working hard to ensure the team is back challenging for the title and trophies next season."

The players' wage bill was also up however by 18.9 per cent, reflecting the arrivals of Juan Mata and Marouane Fellaini plus new deals for Nani and Adnan Januzaj.

Wayne Rooney also signed a new deal during the current financial year but it is understood that is for the same level as his previous contract - around £230,000 a week - but he earns more from a separate image rights contract which is not reflected in United's staff costs.

The financial picture for United's current season looks rosy - sponsorship income rose 43.5 per cent while United's overall debt is down 4.3 per cent at £351.7million, while the cost of servicing that debt also fell - there was a £2.8million reduction in interest payable following refinancing in June last year.

Broadcasting revenue for the third quarter was £35.6million, an increase of £13.9million or 64.1%, due to increased revenue from the Premier League.

It will be this time next year however that the impact of not playing in the Champions League will be felt, though there will also be extra income from United's huge Chevrolet sponsorship deal which comes on stream next season.

@zabbaman.....zzzzZZZZZzzzzz. Listen, lying to yourself is one thing, and I'm sure you find it really pleasing, but it's getting pretty tedious for the rest of us. Now if City's title is so meaningless that within days you're back on the United pages, that's up to you....but we really aren't interested chap. if you want to suck up to MUST....as though it means anything, go ahead, but the facts are they made a load of predictions about what would happen and they were wrong. So I can see your affinity with them, the difference is....they know when to shut up. You in the other hand, one minute United have spent more than everyone else....next minute the Glazers are milking the club dry, which is it? Oh and did you notice the bit about Rooneys wage?? Just add that to the long list of things youve said which prove to be nonsense. Shouldn't you be waiting to see what punishment City will accept for trying to cheat and then lie about it? I suppose the ultimate punishment is that everyone now know you've cheated.....whilst United break records with legitimate income. Don't worry.....I'd be bitter to!
- oneloveunited

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