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Revenue up to £123m at Manchester United despite disappointing season

A strong third quarter performance from Premier League football club Manchester United has saw revenue increases right across the board, despite the team’s relatively disappointing performance on the field.

In its third quarter results released to the New York Stock Exchange, the club has revealed that overall revenue has jumped to £123m, up nearly 30% from the £95m it posted for the same period last year.

Particularly strong commercial revenues, including sponsorships and content deals, have fuelled the Manchester club’s revenue growth, reaching £65.8m in the quarter thanks to new agreements with the likes of Gulf Oil International and 20th Century Fox.

The Red Devils also saw strong growth in both broadcasting revenue (£27.8m) and match day revenue (£29.8) which were both up by 28% and 17% respectively in comparison to the third quarter of 2015.

With profits up to £13.7m, the club has also managed to reduce its net debt by almost 10%, down to a still sizeable £348.7m.

Commenting on the figures, Ed Woodward, Executive Vice Chairman, said: “The conclusion to this year’s season demonstrates once again why the Premier League is the most popular league in the most popular sport.

“As we reflect on our season, we are delighted by the emergence of yet another crop of exciting young players that demonstrate once again our terrific track record of youth development. We are looking forward to the FA Cup final on May 21st and hopefully winning this special trophy for a record equaling twelve times.”

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