Manchester United slump into the red off the pitch
Manchester United suffered a loss of £55,000 (€74,000) in the three months to the end of December as income from televised matches declined 39pc.
Revenue fell 14pc to £105.8m after the team failed to reach the Champions League European club competition.
Man United is trying to fill the gap left by Alex Ferguson, who retired after 26 years with 38 trophies. The team will benefit from the Premier League’s new broadcast contract but hasn’t been able to recreate his success on the field.
“Notwithstanding no European football this season, our revenues and ebitda remain strong and demonstrate the underlying strength of our business model,” executive vice-chairman Ed Woodward said in the statement. “On the pitch, the team is well positioned to challenge for a top four finish in the Premier League.”