Manchester United to announce record £420m revenue after making £25m profit…
Manchester Untied are set to announce a record revenue of £420m for the 2013-14 season, despite an unsuccessful campaign and a huge pay-off to former manager David Moyes.
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The figure represents a £25m profit for the Old Trafford club, who finished seventh in the Premier League last season and failed to reach more than the semi-final of any major tournament either domestically or in Europe.
United will announce the annual results on Wednesday, with plus points thought to include the sales of two million replica shirts – according to reports in the Daily Mail.
The source adds that the annual results should also include details of pay-offs to former manager David Moyes and his coaching team, but the figures will not reflect any financial losses incurred from failing to qualify for Europe for this season.
In addition, the key results have already been flagged up in a prospectus released in August for a new release of shares on the New York Stock Exchange.
Total revenue is expected to be between £429m and £434m, an increase of 18-19%, while profit for the year is expected to be between £23m and £25m. This amount is significantly down from the £146.4m from the previous year, but that was mainly due to a one-off tax credit.
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