English Premiership

Man Utd profits dive on Champions League absence

2016-11-17 19:39
Manchester United (File)

London - Manchester United posted sliding quarterly profits on Thursday as the team paid the price for failing to qualify for the lucrative UEFA Champions League.

Operating profit dived one third to £6.2 million in three months to September 30, or the first quarter of the club's 2016/2017 financial year.

That compared with £9.5 million in the same period a year earlier, the group said in a results statement.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) dropped 25 percent to £31.2 million.

"Our financial results for this quarter reflect the impact of our non-participation in the UEFA Champions League," said executive vice chairman Ed Woodward.

But he added: "We are pleased that we remain on track to deliver record revenues revenues for the coming year.

"During the quarter we added a number of top quality players to our squad, which once again demonstrates our determination to challenge for trophies."

The team signed Eric Bailly, Zlatan Ibrahimovic, Henrikh Mkhitaryan and Paul Pogba over the quarter.

United failed to qualify for the Champions League with their fifth place finish in the Premier League last season.

That sparked the sacking of former manager Louis van Gaal who was replaced with Jose Mourinho in May.

Following the start of the new season, United lie sixth in the English Premier League -- adrift of the top four finish they need to qualify for European club football's elite competition for next season.

NEXT ON SPORT24X

What To Read Next

 

Read News24’s Comments Policy

Live Video Streaming
Video Highlights
Sport Talk

Fixtures
05 December 2016
Middlesbrough v Hull City, Riverside Stadium 22:00
10 December 2016
Watford v Everton, Vicarage Road Stadium 14:30
Arsenal v Stoke City, Emirates Stadium 17:00
Hull City v Crystal Palace, Kingston Communications Stadium 17:00
Swansea City v Sunderland, Liberty Stadium 17:00
Burnley v AFC Bournemouth, Turf Moor 17:00
Leicester City v Manchester City, King Power Stadium 19:30
11 December 2016
Chelsea v West Bromwich Albion, Stamford Bridge 14:00
Manchester United v Tottenham Hotspur, Old Trafford 16:15
Southampton v Middlesbrough, St. Mary's Stadium 16:15
Liverpool v West Ham United, Anfield 18:30
Logs
Team P W PTS
Previous Results

Date Home Team Result Away Team
Vote

Who will claim the Premier League title at the end of the 2016/17 season?

 
 
Men
Women
Love 2 Meet
English Premiership flutter

Take Sport24's "expert" tips at your peril...

Sport24 on Twitter

Follow Sport24 news on Twitter

Featured

With the Absa Premiership in full swing, who will be crowned champions when all is said and done? Will Mamelodi Sundowns defend their title? Or can Kaizer Chiefs, Orlando Pirates or Bidvest Wits mount a serious challenge? Stay glued to Sport24 to find out!

Latest blogs
 

Twitter Follow Sport24 on Twitter

Facebook "Like" Sport24's Facebook page

WIN Enter and win with Sport24!

BlackBerry Stay in the loop on your BlackBerry

RSS Feeds Sport news delivered really simply.

 
There are new stories on the homepage. Click here to see them.