Manchester United set for bumper financial season following huge commercial revenue rise
Predicted revenues rise amid Champions League run and sponsorship deals
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.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.
PA
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments