Manchester United post slight revenue increase but net debt rises

Manchester United post slight revenue increase but net debt rises

Manchester United have posted revenues of £135.4million for the first quarter of 2019-20.

The figures represent a £400,000 increase on the same period for the previous year.

Commercial revenue was £80.4million, a 5.9 per cent increase on the previous year, the club said in a financial statement.

Manchester United have released their first-quarter results (Anthony Devlin/PA)
Manchester United have released their first-quarter results (Anthony Devlin/PA)

United are expecting 2020 annual revenue to be down this year to somewhere between £560-580million, compared to £627.1million for the year ending June 30, 2019.

In part that will be due to the club’s lack of Champions League football this season. Broadcasting revenue for the quarter was £32.9million, a 23.1 per cent and £9.9million drop on the same quarter the year before.

The figures published on Monday cover the period July 1, 2019 to September 30 of this year.

One of the most eye-catching points on the balance sheet is the increase of net debt, from £247.2million to £384.5million, a rise of 55.5 per cent.

Our ultimate goal is to win trophies by playing exciting football with a team that fuses graduates from our academy with world-class acquisitions.

The club’s wage bill has dropped by 8.8 per cent “primarily due to reductions in player salaries as a result of non-participation in the UEFA Champions League”, the statement said.

United’s executive vice-chairman Ed Woodward said: “We have a clear vision in terms of football philosophy and recruitment.

“The significant investments that we have made in recent years in areas such as transfers, recruitment infrastructure, analytics and our academy are already beginning to bear fruit.

“We are very proud to be shortly approaching a milestone 4,000th game featuring an academy player, and we are particularly optimistic regarding the considerable young talent currently coming through.

“Our ultimate goal is to win trophies by playing exciting football with a team that fuses graduates from our academy with world-class acquisitions.”

More on this topic

Paul Rouse: Roy proves that you can’t keep a good man downPaul Rouse: Roy proves that you can’t keep a good man down

Cardiff’s appeal against paying €6m to Nantes to be heard by CASCardiff’s appeal against paying €6m to Nantes to be heard by CAS

Thursday's football rumours from the mediaThursday's football rumours from the media

Celtic move two points clear of Rangers after Scott Brown’s late winnerCeltic move two points clear of Rangers after Scott Brown’s late winner

More in this Section

The bond exists forever’: John Giles misses Premier League punditry to be with old Leeds palsThe bond exists forever’: John Giles misses Premier League punditry to be with old Leeds pals

Jose Mourinho gets reminder of scale of Spurs rebuildJose Mourinho gets reminder of scale of Spurs rebuild

Divock Origi double leaves Everton boss Marco Silva on the brinkDivock Origi double leaves Everton boss Marco Silva on the brink

Provinces to be redrawn in GAA’s bold new eraProvinces to be redrawn in GAA’s bold new era


Lifestyle

The Marquee in Cork dominated the gig news this week, with a string of announcements for what is expected to be the final year at the Monahan Road venue before the site is developedScene + Heard: The most played artist on Spotify and all the latest music news

Esther N McCarthy picks perfect paperweights, brilliant books and Christmas collectables this week.Brilliant books and Christmas collectables - here's our wish list

John Spillane tells Ellie O’Byrne how he’s hoping to fund his next album by taking the bardic route of writing unique compositions for people on whatever they’d like‘I’ll write you a song for €1,000' - John Spillane's unique way to fund new album

From starring in a Cork-set film, to securing a role in Ridley Scott’s major new HBO series, it has been quite a year for Niamh Algar, writes Esther McCarthyIreland’s next big thing: Niamh Algar on her incredible year

More From The Irish Examiner