Here’s one way to get over the disappointment of losing the Manchester derby on Saturday…
On Monday Manchester United revealed their financial records for the year ending 2016 and the Red Devils became the first British team to reach revenue levels of over $663 million in a year.
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In fact United’s record revenue levels for 2016 was $683.5 million, as they also recorded a record profit of $90.1 million.
United are also predicting that revenues will reach over $700 million in 2017 and that’s despite not being in the incredibly lucrative UEFA Champions League after their fifth-place finish last season.
Man United’s executive vice-chairman Ed Woodward stated United’s “strong financial performance has enabled us to be in a position to challenge for and win trophies in the coming years.”
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After arriving as United’s new manager this summer, Jose Mourinho’s side have won three of their opening four games of the Premier League season but were somewhat humbled by Manchester City and Pep Guardiola on Saturday in a 2-1 defeat at Old Trafford.
Still, with replica shirts with Paul Pogba and Zlatan Ibrahimovic‘s name on the back of them flying out of United’s club shop and up to 14 new commercial deals signed last year alone, United are breaking all kinds of financial records off the pitch with commercial, TV and matchday revenue all rising.
The main takeaways from this financial report are the following:
- First British team to record revenue of over $663 million (revenue levels $683.5 million for 2016)
- Club record profit of $90.1 million
- Louis Van Gaal and his staff paid $11.1 million in compensation after being fired
- Commercial revenue up 30 percent to $355 million, now bigger than net debt of $345 million