Manchester United reveal increase in revenues
Tuesday 21 February 2012
Manchester United's revenue increased to £175million in the last six months of 2011, the Barclays Premier League club announced today.
United, who are second in the table behind neighbours and bitter rivals Manchester City, released their financial report for the third quarter of 2011 today.
The figures showed that the club's total revenue at the end of 2011 stood at £175million, an increase of £18.5million on the figure of £156.5million, which United declared at the end of 2010.
The club have experienced increases in matchday revenue - up from £52.4million to £54.5million, media revenue - up from £53.7million to £60.9million, and commercial revenue, which has risen to £58.6million from £50.4million.
The club, who are taken over by the Glazer family in 2005, have a debt of £439million as of the end of last year, down from £508 million the previous year.
The reason behind the decrease in the club's debt is because United have bought back some of the bonds that were sold as part of a £500million refinancing exercise at the start of 2010.
United also reported today that total operating costs rose sharply from £96.9million to £110.8million.
Net player capital expenditure jumped from £11.7million £47.9million due to the summer signings of David de Gea, Ashley Young and Phil Jones and general capital expenditure rose by £10.4million, thanks partly due to the cost of refurbishment of the club's hospitality boxes at Old Trafford.
The figures show the Red Devils currently have a bank balance of £50.9million.
The club are expected to experience a decline in income over the next six months after dropping down to the Europa League from the Champions League.
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