Manchester United posts 25% drop in earnings

Manchester United posted a 25% drop in quarterly earnings as its absence from the Champions League and fewer home games this year hit its matchday revenue.

“Our financial results for this quarter reflect the impact of our non-participation in the UEFA Champions League (failed to qualify for this season), we are pleased that we remain on track to deliver record revenues for the coming year,” United executive vice-chairman Ed Woodward said.

Adjusted earnings before interest, tax, depreciation and amortisation for the three months to the end of September fell to £31.2m (€36.2m) from a record £41.6m a year earlier.

Revenue came in at £120.2m falling from £123.6m. Commercial revenue rose 4.4% to £74.3m and makes up about 62% of total income.

Meanwhile, Barcelona clinched a massive sponsorship deal worth more than $235m (€219m) over four years with Japanese online retailer Rakuten.