Manchester United's revenue and profit is set to fall in 2014-15, the English football club said yesterday, paying the price for missing out on European games this season and underlying the value of a swift return to the Champions League.
United, 20 times English champions, reported revenue of £433m (€539m) in the year to the end of June, and core profit of £130m, both record figures thanks to improved TV and sponsorship deals. The team finished only seventh in the Premier League last season, which meant that they failed to qualify for a place in the lucrative European Champions League for this campaign.
As a consequence, United forecast a decline in revenue to £385m-£395m in the current year, and profit of between £90m and £95m.
United have responded to last season's poor form by recruiting Dutchman Louis van Gaal as manager and spending around £150m to improve the team. (Reuters)