Skip to main content

Manchester United Target Trophies As Revenue Hits Record High

Manchester United executive vice-chairman Ed Woodward underlined the club’s hunger for silverware on Tuesday after announcing record-breaking revenues.
United, under manager Jose Mourinho, are seventh in the Premier League after a disappointing start to the season, eight points behind leaders Liverpool and six behind reigning champions Manchester City.
The club has not won the Premier League since 2013, under former boss Alex Ferguson.
United, who have been top of the Deloitte Football Money League for two successive years, brought in £590 million ($776 million) in the year ending June 30, 2018 — a rise of just 1.5 percent on the previous year.
But the expectation is for revenue to rise to between £615 million and £630 million over the coming financial year.
“Everyone at the club is working tirelessly to add to Manchester United’s 66 and Jose’s 25 trophies,” Woodward said. “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.”
Manchester City earlier this month posted record revenues of £500.5 million following their record-breaking season.
United’s annual accounts reveal that the Old Trafford giants paid employees £295.9 million in fiscal 2018 — a hike of £32.4 million over the previous year.
The club said the increase was “primarily due to player salary uplifts related to participation in the UEFA Champions League” but Alexis Sanchez’s January arrival will also have made an impact.
United saw operating profits drop by 45.4 percent to £44.1 million. That was largely due to the United States’ federal corporate income tax rate being reduced from 35 percent to 21 percent.
Adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) were £177.1 million, down from £199.8 million the previous year.

Comments

Post a Comment

Popular posts from this blog

Libya vs Nigeria: Samuel Kalu reveals Super Eagles’ 2nd leg game plan

Super Eagles forward, Samuel Kalu has revealed his team game plan when they take on Libya on Tuesday in the 2nd Leg of the 2019 African Cup of Nations, AFCON, qualifying fixture. The Eagles head to the game after a 4-0 win against the North Africans in the 1st leg played on Saturday in Uyo. Kalu who scored the last goal for Nigeria against Libya in the first leg following Odion Ighalo’s hat-trick said Gernot Rohr’s men will approach the Mediterranean Knights with aggressiveness. ”We are definitely going into that match with a mindset of get all three points. We will approach the match with the same aggressive way like we did in Uyo,” the Bordeaux star told Allnigeriasoccer. ”It’s not going to be easy because the Libyans want to respond to their heavy loss but I am confident we will get the right result.” “I am well pleased to have scored my first goal for the national team,” Kalu added. ”As a young boy playing football on the streets, I always dreamt of scoring for Nigeria, and...
Post a Comment
Read more

Luka Modric Wins Ballon d’Or, Ending Decade of Ronaldo and Messi Dominance

For the first time in over a decade, somebody other than Cristiano Ronaldo or Lionel Messi, Luka Modric is the world’s best footballer. Midfield wizard Luka Modric has been named recipient of the 2018 Ballon d’Or. The announcement came in Paris on Monday. The award has been given out annually since 1956 through France Football Magazine to the player of the year as decided by a panel of football journalists. The Real Madrid and Croatia midfielder breaks up the 10-year streak of Ronaldo or Messi claiming the prize. Juventus forward Ronaldo, the winner of the past two awards, finished second and Atletico Madrid and France striker Antoine Griezmann was third. Barcelona’s Messi was left off the podium for the first time since 2006, largely due to Argentina’s poor showing at the World Cup, but was a part of the 30-man shortlist for the award that also included Manchester City’s Sergio Aguero, Liverpool forward Mo Salah and Manchester United and France midfielder Paul P...
Post a Comment
Read more

Liverpool vs Chelsea: Team news, injuries, possible lineups

Liverpool will tonight take on Chelsea in the Carabao Cup third round clash at Anfield. The Reds head to the game following a 3-0 victory against Southampton last weekend in the Premier League. Liverpool boss, Jurgen Klopp, has confirmed that goalkeeper, Simon Mignolet will start for the hosts. Nathaniel Clyne, Dejan Lovren and Alberto Moreno could feature in defence, while youngster, Curtis Jones may be included in the team if Klopp rests each of Sadio Mane, Mohamed Salah and Roberto Firmino. Dominic Solanke is likely to sit on the bench, while Adam Lallana and Divock Origi have been ruled out from the clash due to injury. Meanwhile, Chelsea on the other hand head to the game after playing a goalless draw against West Ham United in the Premier League on Sunday. The Blues manager, Maurizio Sarri, is likely to be without each of Antonio Rudiger, Ruben Loftus-Cheek and Pedro due to injuries when they clash against Klopp’s men. Sarri may start Andreas Christensen, Cahill and Cesc...
Post a Comment
Read more