Man United profits fall 54%

MANCHESTER UNITED counted the cost of a slide in media income yesterday after profits for the first half of its financial year more than halved.

The figure of £12.4 million (€17.8m) for the six months to January 31 was down on the £26.8m (€38.5m) of a year earlier, a drop of 54%, reflecting a new television deal and the impact of the club's third place Premiership finish on earnings from the Champions League.

The club described the period as "challenging" and said it had been made "even more difficult" by speculation surrounding takeover proposals from Malcolm Glazer, the owner of the Tampa Bay Buccaneers, who holds 28.1% of the club but has seen his bid interest draw protests from supporters.