Tuesday 26 September 2017

New deals drive United towards €500m target

Manchester United's Wayne Rooney
Manchester United's Wayne Rooney

New sponsorship and broadcast deals are expected to drive record revenues for English soccer champions Manchester United in 2013-2014 and enable them to keep pace with European rivals, including Real Madrid and Barcelona, the club said yesterday.

United, controlled by the American Glazer family, forecast revenues would rise to between £420 (€502m) and £430m in the year to next June. That was based on the team finishing at least third in the English Premier League and reaching the quarter-finals of Europe's Champions League and domestic cups.

United were already Britain's richest soccer club and will benefit from enhanced Premier League TV rights deals that began last month and new club sponsorship deals, including a particularly lucrative one with General Motors. Madrid are the only soccer club to have so far broken the €500 revenue barrier, but their Spanish rivals Barcelona expect to do so this season.

United listed on the New York Stock Exchange last year, a long way from their home in northern England. The stock has risen from its flotation price of $14 to trade at over $17, valuing the club at around $2.8bn.

Pictured is Wayne Rooney during a UEFA Champions League Group match on Wednesday.

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