Manchester United Report Record Revenue Under New David Moyes Reign

Christopher AtkinsContributor INovember 14, 2013

MANCHESTER, ENGLAND - NOVEMBER 10:  Manchester United Manager David Moyes celebrates at the end of the Barclays Premier League match between Manchester United and Arsenal at Old Trafford on November 10, 2013 in Manchester, England.  (Photo by Alex Livesey/Getty Images)
Alex Livesey/Getty Images

Premier League champions Manchester United have begun life well under David Moyes' management off the pitch, announcing revenue of £98.5 million in the third quarter of 2013 between July and September.

The figure was bolstered by new sponsorship agreements, including Pepsi and Aeroflot, as well as the increase in Premier League television revenue this campaign.

Per Eurosport, the figures are a record quarterly high:

English soccer champions Manchester United reported a 29 percent increase in revenue to 98.5 million pounds ($157.5 million) in the three months through September, after sponsor and TV deals pushed the quarterly figure to a record high.

The good news is only set to continue for United and new chief executive Ed Woodward, with numerous reports last month reporting that the club were due to sign a £300 million kit deal with Nike for a period of five years.

As David Kent of the Daily Mail reported at the time, the £60 million-a-year deal would almost double Real Madrid's existing record for a kit sponsorship deal.

Add in the new BT Sport Champions League broadcasting deal that was announced only this week and it is clear that the latest figures, estimated to see the Red Devils' annual revenue hit £420 million, could be just the start of the good news.

Regarding the new BT deal, Eurosport reports Woodward saying that the arrangement "represents a meaningful increase over the current arrangement, which should translate into higher broadcasting revenue for the participating clubs."

The club's shares on the New York Stock Exchange have also been performing well, closing at $15.75 per share on Wednesday after opening trading at $14 each in 2012.

Success in commercial activities is, of course, related to performance on the field, and the club will be desperate for their positive recent form to continue as Moyes looks to challenge for titles again this season.

Regardless of whether silverware should arrive, the figures emphasise the importance of Champions League football to the club's financial standing, and qualification for that competition remains a must for the Red Devils and their new manager as they continue to excel as a commercial entity.