Manchester United Reveal Record Quarterly Revenue Despite ‘disappointing’ Season
February 12, 2014
Manchester United have announced today record revenue of £122.9 million in their quarterly financial results ending on December 31, 2013.
The Premier League champions also revealed a 39.4 per cent increase in sponsorship revenue as a result of six major new deals.
There was also an 18.7% rise in broadcasting revenue as a result of new rights deals agreed by the Premier League.
Spending on player and staff wages showed a £7.4m increase from one year previously, representing a 16% rise.
The club’s executive vice-chairman, Ed Woodward, welcomed the growth but lamented his side’s “disappointing” league position in a statement accompanying the results.
“We once again achieved a record revenue quarter with strong contributions from our commercial and broadcasting businesses despite the current league position, which everyone from the Team Manager down has acknowledged is disappointing,” said Woodward.
“We continue to see meaningful opportunities to grow our commercial business and the popularity of football on TV is leading to continued broadcasting revenue growth – all of which bodes well for the long-term stability and financial strength of our business. We are also very pleased to have added a world class player in
The news comes in spite of United’s drop from third to fourth in the Deloitte Football Money League, having been overtaken by German giants Bayern Munich in 2013.
Despite the revenue rise and an adjusted net income of £19.8m (an increase of 4.2%), however, the Red Devils’ gross debt stands at £356.6m.
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