United profits drop

Manchester United today announced half-yearly profits of £28.4m (€40.9m) for the six months to the end of January.

The operating profit, before depreciation and player amortisation, was down substantially from the £39.7m (€57.2m) figure of the previous year and could put increased pressure on the United board to recommend the £800m (€1.15bn) takeover offer from American tycoon Malcolm Glazer to their shareholders.

The decline in profits is attributed to a drop in income from the latest Premier League television deal and a substantial fall in Champions League revenue due to United’s third-place finish in the top flight last season.