United set to announce revenue drop

United set to announce revenue drop
United executive vice-chairman Ed Woodward

Manchester United will today reveal the club’s first definitive financial figures to reflect the cost of missing out on the Champions League.

The publication of the club’s first quarter results should provide accurate figures about an overall percentage drop in income.

The club have estimated revenues will be between £38m and £48m (€47m and €60m) lower than last season’s overall figure of £433m as a result of not being in Europe.

Income from broadcasting revenue and matchday revenue will both be hit – and they accounted for £19.3m each, £38.6m combined, for the first quarter of the 2013-14 financial year.

Broadcasting revenue will suffer as no money is coming in from UEFA – it was worth €44.7m to United in 2013-14 – while matchday income will be affected because there are no European matches at Old Trafford compared to 10 last season which was worth around £20m.

The first quarterly figures, covering the three months ending September 30, 2014, will be announced around 12pm, with United executive vice-chairman Ed Woodward taking part in a conference call with investors an hour later.

The announcement will also show how much United have been able to soften the financial blow of missing out on Europe in terms of the club’s steady rise in income from sponsorship and other commercial deals.

The figures should also provide indications on the extent to which the club’s overall wage bill has risen compared to a year ago.

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