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Manchester United post record financial results

Manchester United posted a third-quarter turnover of 91.7 million pounds.

Figures released to the New York Stock Exchange on Thursday gave the Old Trafford club, who last month sealed their 20th top-flight title, further cause for celebration.
A 52.5 percent sponsorship revenue increase has largely driven the growth in turnover, with the club’s annual income expectation having been bumped up to 360m as a result.
Combined figures of the last three quarters also indicate that commercial income has risen to 114.5m, while revenue generated on Old Trafford matchdays has gone up 34 percent.
The turnover increase comes despite Alex Ferguson’s wage bill rising to 44.9m following the additions of Shinji Kagawa and Robin van Persie to the squad.
The club have also taken steps to decrease their sizeable debt burden from 437m to 367.6m.
United chief executive Ed Woodward expressed delight with the latest figures, saying: “Each of our three primary sectors – commercial, broadcasting and matchday – delivered strong top-line gains and helped us achieve a record third quarter for both revenue and adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization).”
Manchester United were overtaken by Real Madrid as the most valuable football club in the world last month according to Forbes Magazine.
Thu 2 May, 2013
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