Manchester United report record revenues of £627.1m

Manchester United reported record revenues of €710 million (£627m) according to the club’s executive Ed Woodward.
United have recorded only two victories in their last 11 Premier League matches stretching back to last season, which made them dropped to the sixth position and missed out of this season’s Champions League.
The loss of income from the continental competition will affect next year’s figures, with United expecting a drop in revenue to between €634m (£560m) and €657m (£580m).
The Reds made three summer signings: Harry Maguire, Daniel James and Aaron Wan-Bissaka and have already short up front early in the campaign after letting Alexis Sanchez and Romelu Lukaku leave for Inter Milan.
However, Ed Woodward defended the change in approach to target young British talent.
“We remain focused on our plan of rebuilding the team and continuing to strengthen our youth system, in line with the philosophy of the club and the manager,” said Woodward in a statement.
Man United have not won the Premier League title since Alex Ferguson’ retired as manager in 2013 and now do not appear to have closed the gap on rivals Liverpool and Manchester City.
Premier League leaders Liverpool already lead United on the table by 10 points.
However, United remain out in front of their Premier League rivals in terms of revenues.
Liverpool’s income for the same season was €516m (£455m), while
City’s revenue for the 2017/18 season was €567m (£500m).
But United are falling behind their main rivals on the continent for the right to be branded the world’s richest club.
Last week, Barcelona announced they expect to pass the one billion euro (£883m) mark for the first time this season.
Manchester United’s net profit in the 12 months to 30 June was €21.4m (£18.9m) as their wage bill again increased by 12% to €376m (£332m).
Again, there was also a €22.2m (£19.6m) expense for the release of manager Jose Mourinho and his coaching staff last year.

Author: Cossy

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