Business

TV and match-day income leads to big revenue jump at Man United

Manchester United's big summer signing Romelu Lukaku (centre) celebrates with team-mates Jesse Lingard (left) and Antonio Valencia during a Premier League game at Old Trafford. The club has reported another big increase in quarterly revenues and profit
Manchester United's big summer signing Romelu Lukaku (centre) celebrates with team-mates Jesse Lingard (left) and Antonio Valencia during a Premier League game at Old Trafford. The club has reported another big increase in quarterly revenues and profit

MANCHESTER United, which earlier this year moved back to the top of the Deloitte Football Money League for the first time since 2005, has reported that total revenues for the three months to October grew by 17.3 per cent to £141 million.

The club also reported that its operating profits have more than doubled from £6.2m a year ago to £15.2m now.

And it came despite players wages increasing as a result of the club's return to Europe's top table by way of the Champions League.

Broadcasting and match-day revenues soared by 30 per cent to £38.1m and £22.4m over the three-month period while commercial and sponsor income also grew, though income from retail, merchandising, sportswear and product licensing slipped back on the previous year, albeit by just 0.4 per cent.

In the financial year as a whole, Manchester United is now predicting total revenues of between £575m and £585m.

Net debt was listed as £268.1m at September 30 - a decrease of £69.6m over the year.

United executive vice-chairman Ed Woodward said: "We are just over a quarter of the way through what promises to be another exciting season.

"In the Champions League we have won all four games played to-date; we are through to the quarter-final of the Carabao Cup; and are looking forward to the next few months as the number of matches ramps up."

In 2016 the Red Devils became the first British club in history to break the half-a-billion pound revenue mark, a position which was improved on with overall revenue rising from £515.3m to £581.2m for the year ending June 30 this year.