MANCHESTER UNITED HAVE announced a 9.9% decrease in revenue for the first quarter of the financial year as the club feels the pinch for failing to qualify for the Champions League under David Moyes.
United’s total revenue for the first three months of the latest financial year – ending on September 30 – stands at €111 million, a significant decrease on the €123m reported at the same stage last term.
However, while commercial, matchday and broadcast revenue have all suffered as a result of United falling out of the Premier League’s top four, sponsorship revenue is up 2.4%, largely as a result of a bumper new seven-year shirt deal with American car giant Chevrolet agreed in July and worth an estimated €62.5m per season.
Overall, United have recorded a profit of €11.1m for the quarter, though the club’s gross debt – the controversial legacy of Malcolm Glazer’s leveraged takeover at Old Trafford in the summer of 2005 – has increased by to €452.8m.
On the announcement of the results, executive vice chairman Ed Woodward said:
“While we recognize that the 2014-15 fiscal year financial results will reflect our absence from the Champions League, we signed the largest kit sponsorship deal in the history of sport in the first quarter and, with that concluded, we are excited to focus our efforts on the meaningful growth opportunities in sponsorship, digital media and retail and merchandising.”
He also outlined how Daley Blind’s Twitter following had increased by 72% while Google searches for Angel Di Maria were up 12%. So there is that.
- Liam Twomey, Goal.com
