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European absence to take financial toll on Man United

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New signing Radamel Falcao with assistant manager Ryan Giggs

New signing Radamel Falcao with assistant manager Ryan Giggs

Man Utd via Getty Images

New signing Radamel Falcao with assistant manager Ryan Giggs

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)

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