Man United announce record financial results
A lack of success on the pitch doesn’t really impact Manchester United. At least financially...
On Tuesday the Red Devils announced club-record revenue levels for 2019 of $781.3m, with an operating profit of $62 million.
Executive vice-chairman Ed Woodward revealed the results on an investors call, as he lauded their three key new signings over the summer, exciting products coming through the academy and United’s growing presence on social media platforms.
“We remain focused on our plan of rebuilding the team and continuing to strengthen our youth system, in line with the philosophy of the club and the manager,” Woodward said. “This is reflected in the recent addition of three exciting first-team players, key player contract extensions and the talent we have coming through our academy. Everyone at Manchester United is committed to delivering on our primary objective of winning trophies.”
Despite all of the positives in terms of finances, Ole Gunnar Solskjaer’s men are sitting 10th in the Premier League table after a rocky start to the 2019-20 season and will compete in the Europa League. Not playing in the UCL will cost them close to $60 million.
Some other key figures from Woodward’s call include:
- 12 percent rise in wages for players, now $414 million
- Mourinho and staff paid off $24.4 million
- 2020 revenues projected to drop to £723.7 million due to no UCL action
- Commercial revenue = $343.2 million
- Sponsorship revenue = $215.8 million
- Retail, Merchandise, Apparel & Product Licensing revenue = $127.4 million