Manchester United have announced that revenue levels for the three months leading up to December 31 rose by 26.6 percent.
The Red Devils released the figures on Thursday which show revenue of $192.4 million, with commercial revenue up a massive 42.5 percent but matchday revenue was down 1.6 percent.
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The overall profit for the quarter was $26.7 million and over that period club debt fell by 6 percent but still stands at an eye-watering $463.6 million. That said, in a recent review of the finances of the top clubs on the planet Deloitte believes United will top the rich-list next season.
Despite Louis van Gaal’s future being questioned, United being knocked out of the UEFA Champions League at the group stage in December and being six points off the top four with just 13 games of the current Premier League season to go, the strength of their results off the pitch continue to show just how successful a business they’ve become.
Executive vice-chairman Ed Woodward told investors that: “Our solid results off the pitch help contribute to what remains our number one priority - success on the pitch.”
Woodward has also vowed to continue United’s “strong commitment to investing in our squad, youth academy.”
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Van Gaal, 64, will need a strong finish to the season on the pitch to help United to success and in turn improve those financial figures for next season. Failure to finish in the PL’s top four and qualify for the UCL will substantially impact United’s financial results next season, and the pressure remains on him and his players to claw back the deficit.
With speculation mounting that Jose Mourinho could be appointed as United’s new boss there also seems to be a surplus of cash which Rob Harris from the Associated Press speculates could be used for a new manager...
Man United's £122m "war chest" ...
— Rob Harris (@RobHarris) February 11, 2016
(for a new manager's spending spree?) pic.twitter.com/T8Z2lqU607
