Premier League clubs Manchester United have announced a $632.4 million revenue for the third quarter, ending on March 31, of fiscal 2018-19. This is a 5.9% increase over the earnings for the same period in the last financial year.
The club has also revealed profits of US$52.4 million for the quarter, states a sportspromedia.com report.
Ed Woodward, chief executive at Manchester United, has labelled this season as “turbulent” as the club failed to qualify for the UEFA Champions League and sacked José Mourinho during the season.
“After a turbulent season, everyone at Manchester United is focused on building towards the success that this great club expects and our fans deserve” said Ed Woodward, executive vice chairman, in earnings statement.
“The preparations for the next campaign are under way and the underlying strength of our business will allow us to help the coach.”
Due to failure to qualify for the Champions League, the income the club gain from broadcast rights will drop. This year television rights deals were worth US$255.4 million to the 20-time English champions.
The Red Devils also recently were pipped to top spot in Brand Finance’s ranking of the most valuable soccer brands by Spanish club Real Madrid.
Meanwhile, Manchester United and apparel partners adidas have also launched the club’s new home kit.
The classic design pays homage to the incredible 1998/1999 season in which Manchester United made history by becoming the first team to win the Premier League, FA Cup and UEFA Champions League in one season. Twenty years on, it remains a unique achievement – unmatched by any other English club.