Manchester United Announce Record Revenue
September 10, 2014
Despite recent failures on the pitch, Manchester United have been boosted today by the announcement that off the pitch deals have resulted in record annual revenue of £433.2m while profits have dropped to £23.8m for the year 2013/2014.
United finished seventh last season and failed to qualify for European football for the first time since 1990.
Despite the problems, the club said revenue increased 19% to £433.2m, compared with £363.2m a year earlier.
The football club also said net income plunged 84% for the year to 30 June to £23.8m, from £146m a year ago.
Manchester United said its 2013 net income benefitted from a tax credit of £155.2m, which it received from “US deferred tax assets”.
There was also a surge in commercial revenue with United reporting a 24.1% for the year to a record £189.3m compared to £152.5m.
Manchester United also revealed that 2015 revenue will fall to between £385m and £395m suggesting its failure to qualify for the Champions League for the first time in 20 years may be to blame.
Woodward Pleased with Finances
United’s executive vice-chairman Ed Woodward remains positive about the future outlook of the finances.
He said: “We are very proud of the results achieved in fiscal year 2014 as we once again generated record revenues and EBITDA driven by our commercial and broadcasting businesses which delivered impressive year over year growth.
Woodward also hailed the impact of a record kit deal with adidas worth £750m over ten years.
“We also recently announced a record breaking deal with adidas and very much look forward to launching this partnership next summer,” he added.
“With
In recent years Manchester United has dropped from being the most valuable sports team to third according to Forbes.
{jcomments on}
