Manchester Untied results: Club post record revenues as chief executive Ed Woodward claims they are in a strong position to challenge for the title next season

United report record revenue profits for the third quarter of the financial year even though they finished seventh in the Premier League and sacked David Moyes

Manchester United have reported record revenues for the third quarter of the financial year which club chiefs say puts them in a good position to invest in the squad and challenge for the title next season.

United reported revenues of £115.5million for the quarter, up 26 per cent, mainly due to rises in income from Premier League broadcasting money and sponsorship deals.

United are expected to announce next week that Dutch coach Louis van Gaal is to be their new manager, but no mention was made of the appointment in this report.

Ed Woodward, United's executive vice-chairman, said in a statement: "We once again generated record revenues... as all of our businesses delivered impressive year over year growth.

"This puts us in a healthy financial position to continue to invest in the squad. Everyone at the club is working hard to ensure the team is back challenging for the title and trophies next season."

The players' wage bill was also up however by 18.9 per cent, reflecting the arrivals of Juan Mata and Marouane Fellaini plus new deals for Nani and Adnan Januzaj.

Wayne Rooney also signed a new deal during the current financial year but it is understood that is for the same level as his previous contract - around £230,000 a week - but he earns more from a separate image rights contract which is not reflected in United's staff costs.

The financial picture for United's current season looks rosy - sponsorship income rose 43.5 per cent while United's overall debt is down 4.3 per cent at £351.7million, while the cost of servicing that debt also fell - there was a £2.8million reduction in interest payable following refinancing in June last year.

Broadcasting revenue for the third quarter was £35.6million, an increase of £13.9million or 64.1%, due to increased revenue from the Premier League.

It will be this time next year however that the impact of not playing in the Champions League will be felt, though there will also be extra income from United's huge Chevrolet sponsorship deal which comes on stream next season.

Have you tried new the Independent Digital Edition apps?
Caption competition
Caption competition
Latest stories from i100
Have you tried new the Independent Digital Edition apps?

Bleacher Report

Daily Quiz
SPONSORED FEATURES
Independent Dating
and  

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

Day In a Page

The long walk west: they fled war in Syria, only to get held up in Hungary – now hundreds of refugees have set off on foot for Austria

They fled war in Syria...

...only to get stuck and sidetracked in Hungary
From The Prisoner to Mad Men, elaborate title sequences are one of the keys to a great TV series

Title sequences: From The Prisoner to Mad Men

Elaborate title sequences are one of the keys to a great TV series. But why does the art form have such a chequered history?
Giorgio Armani Beauty's fabric-inspired foundations: Get back to basics this autumn

Giorgio Armani Beauty's foundations

Sumptuous fabrics meet luscious cosmetics for this elegant look
From stowaways to Operation Stack: Life in a transcontinental lorry cab

Life from the inside of a trucker's cab

From stowaways to Operation Stack, it's a challenging time to be a trucker heading to and from the Continent
Kelis interview: The songwriter and sauce-maker on cooking for Pharrell and crying over potatoes

Kelis interview

The singer and sauce-maker on cooking for Pharrell
Refugee crisis: David Cameron lowered the flag for the dead king of Saudi Arabia - will he do the same honour for little Aylan Kurdi?

Cameron lowered the flag for the dead king of Saudi Arabia...

But will he do the same honour for little Aylan Kurdi, asks Robert Fisk
Our leaders lack courage in this refugee crisis. We are shamed by our European neighbours

Our leaders lack courage in this refugee crisis. We are shamed by our European neighbours

Humanity must be at the heart of politics, says Jeremy Corbyn
Joe Biden's 'tease tour': Could the US Vice-President be testing the water for a presidential run?

Joe Biden's 'tease tour'

Could the US Vice-President be testing the water for a presidential run?
Britain's 24-hour culture: With the 'leisured society' a distant dream we're working longer and less regular hours than ever

Britain's 24-hour culture

With the 'leisured society' a distant dream we're working longer and less regular hours than ever
Diplomacy board game: Treachery is the way to win - which makes it just like the real thing

The addictive nature of Diplomacy

Bullying, betrayal, aggression – it may be just a board game, but the family that plays Diplomacy may never look at each other in the same way again
Lady Chatterley's Lover: Racy underwear for fans of DH Lawrence's equally racy tome

Fashion: Ooh, Lady Chatterley!

Take inspiration from DH Lawrence's racy tome with equally racy underwear
8 best children's clocks

Tick-tock: 8 best children's clocks

Whether you’re teaching them to tell the time or putting the finishing touches to a nursery, there’s a ticker for that
Charlie Austin: Queens Park Rangers striker says ‘If the move is not right, I’m not going’

Charlie Austin: ‘If the move is not right, I’m not going’

After hitting 18 goals in the Premier League last season, the QPR striker was the great non-deal of transfer deadline day. But he says he'd preferred another shot at promotion
Isis profits from destruction of antiquities by selling relics to dealers - and then blowing up the buildings they come from to conceal the evidence of looting

How Isis profits from destruction of antiquities

Robert Fisk on the terrorist group's manipulation of the market to increase the price of artefacts
Labour leadership: Andy Burnham urges Jeremy Corbyn voters to think again in last-minute plea

'If we lose touch we’ll end up with two decades of the Tories'

In an exclusive interview, Andy Burnham urges Jeremy Corbyn voters to think again in last-minute plea