Manchester United post record second-quarter revenue of £122.9m but accept that everyone from David Moyes down is 'disappointed' by this season

Executive vice-chairman Ed Woodward revealed the figures but conceded that 'everyone from the team manager down' accepted that their league position was 'disappointing'

Manchester United executive vice-chairman Ed Woodward has announced that the club have posted a record second-quarter revenue of £122.9m, but admitted that “everyone from the team manager down” has acknowledged that the start to David Moyes’ career at Old Trafford has been disappointing.

United published figures showing an 18.8% rise in commercial income to £42.3m, which pushes the year total up to a 30% increase. In the quarter leading up to December 31 2013, the club activated six new sponsorship deal with more to follow, although the wage expenditure does show a 17% increase.

Speaking after the results were published, Woodward did accept that everyone involved with the club have been left disappointed with how the season has gone so far, with United already losing ten matches this campaign since Moyes took over at the club – one more than they experienced under Sir Alex Ferguson last season.

“We once again achieved a record revenue quarter with strong contributions from our commercial and broadcasting businesses despite the current league position, which everyone from the team manager down has acknowledged is disappointing,” said Woodward.

 

“We continue to see meaningful opportunities to grow our commercial business and the popularity of football on TV is leading to continued broadcasting revenue growth - all of which bodes well for the long-term stability and financial strength of our business.

“We are also very pleased to have added a world class player in Juan Mata to our squad, who has already made a positive impact.”

The figures revealed that broadcasting revenue was up 18.7% to £46.9m due to the new Premier League television right agreement, while increases in the Champions League pool distributions also contributed to that sum due to their league success last season.

Although the £37.1m signing of Juan Mata is not included in the figures, staff cost increased by 16.7%, due to the additions of Marouane Fellaini and Wilfried Zaha. Zaha was initially loaned back to Crystal Palace for the second half of last season, so his wages were only added to the bill since the beginning of the season.

The clubs gross debt has been reduced by a further 2/7% to £356.6m, but do have an additional £72m in the bank which can be used in the summer to strengthen the squad – fans will expect that figure to be used to address the problems currently in the first team.

United have chosen to remain quiet though on their ongoing negotiation of a new kit supplier, with their current deal with Nike set to expire at the end of the season. Speculation has linked kit-makers Asidas, Puma and Warrior with making offers to take the manufacturing rights to all United shirts, which would see their name branded on one of the most famous club shirts in the world.

Woodward also failed to reveal any contingency plans financially should United miss out on Champions League qualification this year. However, Woodward will speak to shareholders later on Wednesday.

Suggested Topics
Voices
There will be a chance to bid for a rare example of the SAS Diary, collated by a former member of the regiment in the aftermath of World War II but only published – in a limited run of just 5,000 – in 2011
charity appealTime is running out to secure your favourite lot as our auction closes at 2pm tomorrow
Arts and Entertainment
Mark Wright has won The Apprentice 2014
tvThe Apprentice 2014 final
Arts and Entertainment
X Factor winner Ben Haenow has scored his first Christmas number one
music
News
i100
PROMOTED VIDEO
Have you tried new the Independent Digital Edition apps?
News
news
News
Elton John and David Furnish will marry on 21 December 2014
peopleSinger posts pictures of nuptials throughout the day
Arts and Entertainment
James May, Jeremy Clarkson and Richard Hammond in the Top Gear Patagonia Special
tv
News
File: James Woods attends the 52nd New York Film Festival at Walter Reade Theater on September 27, 2014
peopleActor was tweeting in wake of NYPD police shooting
News
Claudia Winkleman and co-host Tess Daly at the Strictly Come Dancing final
people
Extras
indybest
News
peopleLiam Williams posted photo of himself dressed as Wilfried Bony
Sport
Martin Skrtel heads in the dramatic equaliser
SPORTLiverpool vs Arsenal match report: Bandaged Martin Skrtel heads home in the 97th-minute
Caption competition
Caption competition
Latest stories from i100
Have you tried new the Independent Digital Edition apps?

Bleacher Report

Daily Quiz
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

Day In a Page

The week Hollywood got scared and had to grow up a bit

The week Hollywood got scared and had to grow up a bit

Sony suffered a chorus of disapproval after it withdrew 'The Interview', but it's not too late for it to take a stand, says Joan Smith
From Widow Twankey to Mother Goose, how do the men who play panto dames get themselves ready for the performance of a lifetime?

Panto dames: before and after

From Widow Twankey to Mother Goose, how do the men who play panto dames get themselves ready for the performance of a lifetime?
Thirties murder mystery novel is surprise runaway Christmas hit

Thirties murder mystery novel is surprise runaway Christmas hit

Booksellers say readers are turning away from dark modern thrillers and back to the golden age of crime writing
Anne-Marie Huby: 'Charities deserve the best,' says founder of JustGiving

Anne-Marie Huby: 'Charities deserve the best'

Ten million of us have used the JustGiving website to donate to good causes. Its co-founder says that being dynamic is as important as being kind
The botanist who hunts for giant trees at Kew Gardens

The man who hunts giants

A Kew Gardens botanist has found 25 new large tree species - and he's sure there are more out there
The 12 ways of Christmas: Spare a thought for those who will be working to keep others safe during the festive season

The 12 ways of Christmas

We speak to a dozen people who will be working to keep others safe, happy and healthy over the holidays
Birdwatching men have a lot in common with their feathered friends, new study shows

The male exhibits strange behaviour

A new study shows that birdwatching men have a lot in common with their feathered friends...
Diaries of Evelyn Waugh, Virginia Woolf and Noël Coward reveal how they coped with the December blues

Famous diaries: Christmas week in history

Noël Coward parties into the night, Alan Clark bemoans the cost of servants, Evelyn Waugh ponders his drinking…
From noble to narky, the fall of the open letter

From noble to narky, the fall of the open letter

The great tradition of St Paul and Zola reached its nadir with a hungry worker's rant to Russell Brand, says DJ Taylor
A Christmas ghost story by Alison Moore: A prodigal daughter has a breakthrough

A Christmas ghost story by Alison Moore

The story was published earlier this month in 'Poor Souls' Light: Seven Curious Tales'
Marian Keyes: The author on her pre-approved Christmas, true love's parking implications and living in the moment

Marian Keyes

The author on her pre-approved Christmas, true love's parking implications and living in the moment
Bill Granger recipes: Our chef creates an Italian-inspired fish feast for Christmas Eve

Bill Granger's Christmas Eve fish feast

Bill's Italian friends introduced him to the Roman Catholic custom of a lavish fish supper on Christmas Eve. Here, he gives the tradition his own spin…
Liverpool vs Arsenal: Brendan Rodgers is fighting for his reputation

Rodgers fights for his reputation

Liverpool manager tries to stay on his feet despite waves of criticism
Amir Khan: 'The Taliban can threaten me but I must speak out... innocent kids, killed over nothing. It’s sick in the mind'

Amir Khan attacks the Taliban

'They can threaten me but I must speak out... innocent kids, killed over nothing. It’s sick in the mind'
Michael Calvin: Sepp Blatter is my man of the year in sport. Bring on 2015, quick

Michael Calvin's Last Word

Sepp Blatter is my man of the year in sport. Bring on 2015, quick