At halftime, ManU on course to meet $662 mn revenue target

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Premier League club Manchester United has said that it is on course to meet its financial targets despite lagging in rankings in the tournament.

Its revenue showed an 18 per cent rise to $197.5 million in the quarter ending December. It’s revenue for the first six months of the year was bolstered by noticeable increase for match day and broadcast income.

Match day revenue showed a more impressive 27 per cent rise to $48.3 million as the team played three more home games at Old Trafford during the period.

Broadcasting revenues soared almost 41 percent to $65.6 million, helped by new rights deals for Premier League clubs.

Its financials were also by a $6 million credit after German midfielder Bastian Schweinsteiger won back a place in the first team squad. The club had earlier written off his value.

The club’s earnings before interest, tax, depreciation and amortisation (EBITDA), a key metric tracked by financial analysts, rose to $86.3 million in the quarter, up from $70 million in the same quarter last year. The club has reiterated its revenue target of between $662.6 to $675.1 million pounds for the year to the end of June.

Manchester United has had a stellar record in the Premier League, having won a record 20 championship titles. But they have slipped from their standards since manager Alex Ferguson retired in 2013. It has one of the highest revenue among all football clubs in the world.

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