Wednesday 21 February 2018

Manchester United's €661m breaks record

Manchester United manager Jose Mourinho
Manchester United manager Jose Mourinho

Nigel Whittaker

Manchester United have turned over more than half a billion pounds for the second successive year, with a record-breaking £581.2m (€661m) revealed.

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 (€92m) and record earnings of £199.8m (€227m) before interest, tax, depreciation and amortisation.

United are expecting to post a revenue of between £575m (€654m) and £585m (€666m) 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 remained the same.

Retail revenue increased by £6.7m (€7.6m) 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 (€54.4m) to £213.1m (€242.3m) over the year.

Irish Independent

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