You’ve got to speculate to accumulate.
Manchester United knows all about that.
After a summer of heavy spending on the likes of Jose Mourinho, Paul Pogba, Henrikh Mkhitaryan, Eric Bailly and Zlatan Ibrahimovic, United revealed record quarterly revenue levels on Thursday.
Broadcast revenues were up 40.8 percent in the final three month of 2016, while matchday revenues were up 27 percent and their operating profit for the three months to December 31 were up 15 percent to $47.1 million. Overall turnover increased by 18 percent in the same time period and came in at $197.8 million. United also expect to record annual revenue levels of over $676 million.
Despite all of that good news the net debt also rose by 27 percent as it now stands at $513 million.
Chief Executive Ed Woodward blamed the rise in debt for the weak pound against the US dollar, while he also revealed the Red Devils are on course to break even more records.
“The robustness of our business model continues to be reflected in our strong quarterly financial results and we remain on track to deliver record revenues for the year,” Woodward said.
Last month United were listed by Forbes as the biggest revenue making sports team on the planet based on the 2015-16 season, bringing in $774 million.
Imagine how much more profitable they’d be if they actually got back into the UEFA Champions League (they’ve missed out on the UCL in two of the last three seasons) and were serious contenders for the Premier League title…
PRAGUE (AP) Former Czech Republic defender Frantisek Rajtoral, who won the domestic league title four times before joining Turkish club Gaziantepspor, died on Sunday. He was 31.
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The Czech football federation said in a statement that Rajtoral had “committed suicide in Turkey.”
His agent Pavel Zika confirmed the player’s death, describing it as a “huge tragedy.”
Gaziantepspor announced Rajtoral’s death in a brief statement on its website.
Rajtoral played 14 international matches for the Czech Republic.
In the top Czech league, he won four titles with Viktoria Plzen and played in the group stage of the Champions League twice for the club. He moved to Hannover in the Bundesliga in 2014 for half of the season, on loan.
He left Viktoria Plzen last year to move to Turkey.
Arsene Wenger has made it clear about Hector Bellerin representing Spain this summer but the Arsenal defender is prepared to go against his manager’s wishes if he is selected.
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The 22-year-old has said he hopes to play for Spain’s Under-21 side this summer during the 2017 European U-21 Championship but Wenger has been weary of Bellerin’s injury status and wants his fullback to maintain a clean bill of health throughout the offseason.
“I really want to play,” Bellerin told IBTimes. “Representing Spain is very important. If [Albert] Celades gives me the chance I’ll be there.
“Those are opinions of the managers. I have to keep working. The truth is that I had a difficult injury but I think that I am at 100% now and I’ll try to prove it when I get the chance.”
Bellerin signed a six-and-a-half year deal with the Gunners in November, where he has resided since coming up in the club’s academy. He has made 102 appearances for Wenger’s team in that span over all competitions.
PESCARA, Italy (AP) Roma boosted its bid for second place in Serie A and automatic entry into the Champions League with a 4-1 win at Pescara, which was mathematically relegated on Monday.
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Roma moved four points clear of third-placed Napoli, which drew against Sassuolo 2-2 on Sunday. Third place in Serie A receives a Champions League playoff.
Pescara remained 15 points behind Empoli. There are only five matches left and Empoli has the better head-to-head record, which is the deciding factor if two teams finish level on points.
There were 48 goals in total in the 33rd round, matching the record set in October 1992.
Roma took control shortly before halftime, with Kevin Strootman breaking the deadlock after Stephan El Shaarawy unselfishly rolled the ball across the area.
Radja Nainggolan, who earlier hit the bar, doubled Roma’s lead two minutes later.
Mohamed Salah extended Roma’s advantage three minutes after the break and the winger doubled his tally on the hour following a swift counterattack.
Ahmad Benali got a consolation for Pescara and a Cristiano Biraghi free kick also hit the post for the home side.
The timing is a bit sudden and certainly leaves many questions up in the air, but Phoenix Rising will have to look for a new manager.
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On Monday, head coach Frank Yallop resigned from his position with the United Soccer League (USL) club less than one day after former Chelsea legend Didier Drogba joined the organization as a player-owner.
With Phoenix seen as one of several lower-level clubs with ambitions of making the leap to MLS over the coming seasons, Yallop’s departure is surely a shock to many.
According to ESPN FC, Rising lead owner Berke Bakay was quite surprised by Yallop’s decision to step down, as was Drogba.
“Didier was as surprised and disappointed as we were that Frank is unable to continue coaching our Club,” Bakay told ESPN FC. “But, we all respect his decision to put his family first.
“Didier’s focus will remain on improving our team as a player and assisting our MLS expansion team ownership group as a co-owner. Frank will be helping with our international search for a new head coach.”
Rick Schantz, the current Rising assistant coach, will head the team’s managerial duties for the interim while the club completes a full search for a new manager.