Monday 22 January 2018

Manchester United plan 'biggest' summer yet after revealing £500m earnings

Manchester United's executive vice-chairman Ed Woodward
Manchester United's executive vice-chairman Ed Woodward

Manchester United chief executive Ed Woodward has hinted a big summer of investment may be on the horizon.

Woodwood was speaking at a conference call with United’s primary investors after announcing revenue in the three months to 31 December rose 26.6% to £133.8m.

The Red Devils remain on course to become the first British club to earn more than £500m in one year despite being knocked out of the Champions League at the group stage.

Woodward, who was not asked about manager Louis van Gaal’s future, said: “Our financial performance from the second quarter was very strong. This continued strength will enable us to compete at the highest level.

“So far I think this is the biggest window in preparation for the next season, I do think there’ll be more activity in the summer.

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“[League leaders] Leicester is a fantastic reference point for everyone this year. We target quality players based on the huge amount of scouting we do and we try to do the best deal we can.

“The philosophy we have is to target quality players based on scouting and analysis, some players are bought by other clubs with an eye to them developing into something special. There’s more pressure on the bigger clubs.”

Leicester famously signed Riyad Mahrez from Le Havre for £400k while Premier League top goal-scorer Jamie Vardy was also bought for £1m from Fleetwood Town.

Woodward, meanwhile, has pulled off a succession of sensational commercial contracts in recent years, including the £750m, 10-year deal signed with American kit designers Adidas.

Commercial revenue for the second quarter reached £66.1m - an increase of 42.5 per cent on the previous year – while sponsorship revenue for the second quarter was up £1.6m to £37.4m.

(© Independent News Service)

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