United announce profits, debt reduction

A 16.5 percent increase of turnover has helped Manchester United reduce their gross debt by 83 million pounds.

United’s increase of turnover for the first quarter of the financial year was up 10.5 million pounds to a total of 73.8 million pounds, for the period ending September 30.

The greatest rise was in English Premier League club’s commercial turnover, which increased by 22.3 percent to 29.6 million pounds. That was mainly down to the 40 million-pound training kit sponsorship deal the club penned with DHL.

Matchday income also saw a healthy 9.6 percent rise, taking it to 21.6 million pounds, while media revenues came in at 22.6 million pounds.

The rise in turnover means a cut in the club’s debt, leaving a new gross debt level of 433.2 million pounds.

United’s commercial director Richard Arnold said in October that the club were already looking at ways of progressing even further in the future.

“A lot of hard work has gone into getting to the position we are in now and we are already looking to the future,” he said.