Man United announces $787 million record revenue for 2016/17

Dan Istitene/Getty Images
0 Comments

Whoa, that’s a lot of dough.

With the record television deals in place for the Premier League, there’s no wonder top clubs are doing so well financially.

[ MORE: Chelsea sells Diego Costa to Atleti, will re-join club in January ]

Manchester United is right at the front of that, with the club posting a record revenue figure for the 2016/17 year.

The Old Trafford side has announced that it generated over $787 million during last season, after signing the likes of Zlatan Ibrahimovic, Paul Pogba and Henrikh Mkhitaryan.

The Red Devils also won three trophies — UEFA Europa League, League Cup and Community Shield — which certainly helped boost the club’s morale as well.

“We concluded a successful 2016-17 season with a total of three trophies [including the Community Shield] and a return to Champions League football,” said United executive vice-chairman Ed Woodward.

“The year saw us set record revenues of over £581m and achieve a record EBITDA [Earnings before interest, tax, depreciation and amortization] of £199.8m. We are pleased with the investment in our squad and look forward to an exciting season.”

Overall, United has reportedly netted a profit of roughly $53 million, before taxes, and the club’s net debt has been reduced to around $288 million.

Woodward has estimated that United will generate in the range of $770 to $790 million for the 2017-18 fiscal year.