Manchester United set for bumper financial season following huge commercial revenue rise
Predicted revenues rise amid Champions League run and sponsorship deals
Thursday 14 February 2013
Manchester United's Champions League run and new sponsorship deals have put the club on course for a bumper financial season.
The club today announced significant rises in income and profits for the three-month period ending December 2012.
Six new sponsorship deals have seen commercial revenues rise 29.0% compared to the same period in 2011.
It puts United on course to put last year's overall revenue fall - caused by early exits in the Champions League and FA Cup - behind them.
For the 2012-13 financial year United are now forecasting revenue to be "350million to 360milllion" compared to 320million last year, which was 3.3% down.
Ed Woodward, United's executive vice-chairman said: "Manchester United achieved record revenue... in the second quarter driven by our commercial operation, which continues to experience extremely strong growth particularly in sponsorship."
The club's gross debt has decreased by 16.1% since 30 June 2012 to 436.9million.
United's wage bill is heading for an increase of more than 10 per cent in the 2012-13 financial year.
A statement said: "Staff costs for the second quarter increased 14.2% year on year to £44.2 million, primarily due to new player signings, player wage increases and growth in commercial headcount. The six months year to date increase is 10.5% year on year to £84.5 million."
In 2012, United's wage bill was £160million.
Latest in Sport
Arsenal vs Manchester United report: Wayne Rooney and a Kieran Gibbs own goal make Gunners rue missed chances
Chelsea vs West Brom: Jose Mourinho turns on ‘Dr Sergio Ramos’ in Spanish spat
WWE Survivor Series 2014: What time does the event start? And full card
Prince Harry leads the congratulations for Lewis Hamilton in Abu Dhabi, calling him 'an absolute legend' as he crossed the finish line
Arsenal vs Manchester United player ratings: Who was the star man? Wayne Rooney or David De Gea?
- 1 Universities aren't working us hard enough, say undergraduates
- 2 Lego letter from the 1970s still offers a powerful message to parents 40 years later
- 3 To help fuel their propaganda machine against the poor, our government has now decided to redefine the word 'welfare'
- 4 Woman opens professional cuddling shop – gets 10,000 customers in first week
- 5 Grayson Perry: London needs affordable housing because 'rich people don't create culture'
Rochester by-election: Ukip gains second MP as Tory defector Mark Reckless holds seat
'Beast of Bolsover' Dennis Skinner takes Ukip MP Mark Reckless to task moments after he is sworn in
Rochester by-election: Labour MP Emily Thornberry resigns after posting white van and England flags tweet
France 'blocks' Russian sailors from boarding a warship
The young are the new poor: Sharp increase in number of under-25s living in poverty, while over-65s are better off than ever
Revealed: How the world gets rich – from privatising British public services