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Manchester United announce increased revenues in latest set of financial results

Manchester United have announced increased revenues of £137.5m in their third quarter financial results – an 8 per cent increase on the same period last year.

The club earned a profit of £0.1m between January and March, despite the outlay involved in the signing of Alexis Sanchez from Arsenal during the winter transfer window.

Net debt fell to £301.3m, a decrease of £65m over the course of the year, and employee benefits rose by £8.6m due to player bonuses for competing in the Champions League. 

United’s commercial and matchday revenue streams both increased though broadcasting revenues saw the biggest hike, rising 26.4 per cent due to two additional matches being shown live on television.  

On the pitch, United came second to claim their highest Premier League finish since Sir Alex Ferguson’s retirement but still ended the campaign 19 points behind champions Manchester City.

Jose Mourinho’s side have the chance to round off a season of mixed fortunes with silverware when they play Chelsea in the FA Cup final at Wembley on Saturday.

Upon publication of the results, executive vice-chairman Ed Woodward said: “As another season nears its close, we have achieved our highest number of points and finish since 2012/13 and we look forward to another trip to Wembley.

“We anticipate another successful summer tour in the United States in preparation for the 2018/19 season.”

Woodward later held a conference call with investors in which he provided an update on the club’s plans to establish its first-ever professional women’s team. 

United announced the formation of a new women’s side in March and expect to hear whether their application to join the Women’s Super League has been successful later this month.

Woodward also told investors to expect a “small reduction” in the value of the Premier League’s next domestic television rights deal, with two packages for the 2019-22 period yet to be sold.

“We’ve had five of the seven sold so far to Sky and BT with a reduction relative to the last sale. The final few packages – F and G, together with the Ireland rights and near-live – are being sold by the Premier League,” Woodward said. 

“We expect to get an update on that process when we go to the AGM in the second week of June. Overall we expect a small reduction compared to last time but only a small reduction.”

United’s executive vice-chairman also highlighted increased retail sales following the signing of Sanchez in January and revealed season tickets for the 2018-19 campaign have now sold out.

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