Tuesday 18th November 2014 12:08
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Old Trafford: Sharp decline in Manchester United revenue
Manchester United's first-quarter revenue fell 9.9% compared with the same period last year, figures have revealed.
United's overall income for the first three months of the financial year was £88.7m, down £9.8m, but the club did record a profit of £8.9m.
Failure to qualify for this season's Champions League meant big reductions in both broadcasting and matchday revenue, down 13% and 21.8% respectively, while money from commerical activity was down 5.2%.
But the lack of European football did not prevent United securing a record kit deal during the quarter, and chief executive Ed Woodward predicted further "growth opportunities" as the financial year progresses.
He 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.
"With that concluded, we are excited to focus our efforts on the meaningful growth opportunities in sponsorship, digital media and retail and merchandising.”
via TEAMtalk | Manchester Utd http://ift.tt/1HeLyJW
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