United’s results see profits fall

POOR on-field performances by the biggest club in world soccer, Manchester United, were reflected in the company’s financial results as profits fell from €57.7 million (£39.3m) to €41m (£27.9m) in the year to the end of July.

And in a bid to outplay rivals Arsenal, unbeaten in 47 League games, and Roman Abramovich’s Chelsea, United spent its entire transfer budget up to 2006 to buy wonder kid Wayne Rooney from Everton for €39.7m (£27m).

While United, coached by Alex Ferguson, may boost their playing performance thanks to Rooney, things do not look well in the board room. United said earnings from broadcasting, a third of the total, may plunge 25% next year as losses on the pitch last season hurt future fees from TV games.