Manchester United remain on course to become the first British club to earn more than £500m in one year despite a slump in fortunes under manager Louis van Gaal.
The Red Devils have been dumped out of the Champions League and Capital One Cup at early stages this season while they remain six points adrift of the Premier League’s coveted top four places. Despite on-field problems, however, revenue in the three months to 31 December rose 26.6% to £133.8m.
Dutch manager Van Gaal is widely expected to be replaced by former Chelsea boss Jose Mourinho in the summer with some media sources reporting that a three-year deal has been agreed in principle.
In a statement, the North West giants said this morning: “Our strong commitment to investing in our squad, youth academy and the broader club are ultimately underpinned by our financial strength and the hard work and dedication of everyone at the Club.
“Our solid results off the pitch help contribute to what remains our number one priority - success on the pitch.”
United announced in their second-quarterly financial results on Thursday, revealing that they expect revenue for the year to hit between £500m and 510m. No British club in the history of the sport has recorded such a figure, proving the club’s worldwide appeal despite their disappointing season.
Ed Woodward, the chief executive, has pulled off a succession of sensational commercial contracts in recent years, including the £750m, 10-year deal signed with American kit designers Adidas.
Commercial revenue for the second quarter reached £66.1m - an increase of 42.5 per cent on the previous year – while sponsorship revenue for the second quarter was up £1.6m to £37.4m.
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