Manchester United have announced a fall in their revenue by 8.8% in the last year. This strongly underlines the economic benefit of being involved in the UEFA Champions League – which the Red Devils missed out on in 2014-15 after coming 7th in the Premier League during the previous campaign.
£50 million was lost in revenue but due to large commercial earnings, the real loss was only around £38 million. The club’s revenue fell from £433 million to £395 million, but Chief Executive Ed Woodward is not worried by the financial decline:
“As we look to the new season, we are enthusiastic about our strong position, both on and off the pitch.
“In recent weeks we have further strengthened our squad with an exciting mix of experience and youth, qualified for the group stage of the UEFA Champions League, and seen an impressive launch of our partnership with Adidas.
“Our record revenue and EBITDA guidance for 2016 reflects the underlying strength of our business and our confidence in its continued growth.”
United’s new 10-year kit deal with Adidas, which commenced this season, is worth around £75 million per season – and Louis van Gaal’s men are currently back in the UEFA Champions League after a 4th-place finish in the Premier League last season; so things are looking up!
Comments.
Loading comments…