Manchester United break £500m revenue barrier in annual financial results
Manchester United have announced record annual revenue of £515m, making them the first English club to break the half-a-billion barrier and positioning them as the second most profitable club in the world behind Barcelona.
Manchester United
The Premier League club released its financial results today (12 September), showing a record turnover of £515m for a single year, a feat only surpassed by La Liga champions Barcelona, who posted revenue of £571m earlier this year.
United’s financials showed that the club generated a record profit of £68m in a single year which executive vice-chairman, Ed Woodward, said “reflects the continued underlying strength of the business”.
Woodward revealed that they were on target to achieve record revenues in 2017, even without a contribution from the Champions League.
He added: “This strong financial performance has enabled us to invest in our squad, team management and facilities to position us to challenge for, and win, trophies in the coming years.”
Manchester United’s wage bill has increased to £232.2m as a result of its heavy spending spree in players this summer and was only surpassed in spending by its rivals Manchester City.
Man Utd have been able to achieve strong financial results despite their significant spending because of the club’s wide ranging commercial dealings. Its sponsorship agreement with Adidas has played a huge part in this, as has it continuously growing portfolio of sponsors around the world.