Manchester United Forecast Big 2013/14 Profits with Help of Television Revenue
Manchester United are set to break records once again after forecasting their most lucrative year yet, with revenue numbers of up to £363 million expected to be posted.
Reuters announced on Wednesday morning that, with the help of the Premier League’s new television deal and numerous sponsorships, the Red Devils’ $683.81 million revenue equates to profits of £133 million.
That’s compared to last year’s underlying profit of £108.6 million when revenue was closer to £360 million.
Perhaps even more encouraging is the news that the club’s debt has shrunk in the meantime, falling by 10.9 percent to £389.2 million.
According to David Conn of The Guardian, executive vice-chairman Ed Woodward commented on the figures, stating:
We are very proud of our fiscal 2013. It has been a little over a year since our [flotation in New York] and we have delivered on our targets and objectives. Our commercial business continues to be a very powerful engine of growth enabling the team to continue to be successful.
The news will be welcomed by all at Old Trafford in a year that also saw the club knocked off their perch as the most valuable in the world.
United are bankrolled by the American Glazer family, and the club recently came under fire from some of their own fans for not being active enough in the transfer market.
As the Daily Mail’s Graeme Yorke reports, however, the club have since written to their fans in an attempt to quell any concerns over spending.
In total, the numbers over the past 12 months come to an increase in revenue of more than 13 percent, a substantial boost for a club of Manchester United’s size.
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