Man United first quarter earnings fall 15% as income from TV drops

A reduction in broadcast revenue for Manchester United pushed underlying core earnings 15% lower at the Premier League soccer club in the quarter to the end of September.

Adjusted earnings before interest, tax, depreciation and amortisation fell to £16m (€19.9m) after broadcast revenue declined 37% because the club played only one Champions League game in the period and also received less TV money from pooled payments based on performance.

However, a 24% rise in revenues from commercial deals helped total revenues up 3% to £76m. United signed 10 new sponsorship deals in the first quarter.