Manchester United have recorded record revenues in the last financial year as the club announced its fourth quarter results.
The club posted turnover of £590m for the twelve months ending the 30th June up one and half per cent on 2017 and expect that figure to rise to £615m in the next twelve months.
Broadcasting revenue for the year was £204.1 million, an increase of £10.0 million, or 5.2%, over the prior year, primarily due to finishing runners up in the Premier League compared to sixth in the prior year.
Commercial revenue for the year was £276.1 million, an increase of £0.6 million, or 0.2%, over the prior year and Matchday revenue for the year was £109.8 million, a decrease of £1.8 million, or 1.6%, over the prior year.
Total operating expenses for the year were £564.0 million, an increase of £52.7 million, or 10.3%, over the prior year, with player and staff costs £295.9 million, an increase of £32.4 million, or 12.3%, over the prior year, primarily due to player salary uplifts related to participation in the UEFA Champions League.
Ed Woodward, Executive Vice Chairman, commented, “Everyone at the club is working tirelessly to add to Manchester United’s 66 and Jose’s 25 trophies. That is what our passionate fans and our history demands. We are committed to our philosophy of blending top academy graduates with world class players and are proud that, once again, last season we had more academy graduate minutes on the pitch than any other Premier League club. Our increased revenue expectation for the year demonstrates our continued strong long-term financial performance which underpins everything we do and allows us to compete for top talent in an increasingly competitive transfer market.”