Sunday 18 February 2018

Man United money machine in full flow as club earns over half a billion pounds for second successive year

Jose Mourinho is manager of the richest club in world football
Jose Mourinho is manager of the richest club in world football

Manchester United have earned more than half a billion pounds for the second successive year, with a record-breaking revenue of £581.2 million.

While Jose Mourinho's men stuttered home sixth in the Premier League and went without Champions League football, the money-making machine was still in full flow last season.

United last year became the first British club to break the half-billion mark and have improved on that position, with revenue rising from £515.3m to £581.2m for the year ending 30 June 2017.

The club - who in January returned to the top of the Deloitte Football Money League for the first time since 2005 - achieved a record operating profit of £80.8m and record earnings of £199.8m before interest, tax, depreciation and amortisation.

United executive vice-chairman Ed Woodward said: "We concluded a successful 2016/17 season with a total of three trophies and a return to Champions League football.

"The year saw us set record revenues of over £581m and achieve a record EBITDA of £199.8m.

"We are pleased with the investment in our squad and look forward to an exciting season."

United are expecting to post a revenue of between £575m and £585m for the year ending June 30, 2018.

The accounts show wages increased by £31.3m to £263.5m in the previous financial year as Mourinho's appointment was followed by the arrival of Zlatan Ibrahimovic, Paul Pogba, Eric Bailly and Henrikh Mkhitaryan - but in terms of percentage of revenue it broadly remains the same.

Retail revenue increased by £6.7m thanks in part to the fact the full year of their agreement with Adidas came into account along with growth in the Megastore.

United's net debt decreased by £47.8m to £213.1m over the year.

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