English Premiership

Decrease in TV revenue hits Man United's bottom line

2019-11-19 08:14
Ed Woodward
Ed Woodward (PA Images)

Cape Town - Despite sporting revenues of £135.4 million for the first quarter of 2019/20, Manchester United have seen their net debt increase by 55.5%.

The figures represent a £400 000 increase on the same period for the previous year.

Commercial revenue was £80.4 million, a 5.9% increase on the previous year, the club said in a financial statement.

United are expecting 2020 annual revenue to be down this year to somewhere between £560-580 million, compared to £627.1 million for the year ending June 30, 2019.

In part that will be due to the club's lack of Champions League football this season.

Broadcasting revenue for the quarter was £32.9 million, a 23.1% and £9.9 million drop on the same quarter the year before.

The figures published on Monday cover the period July 1, 2019, to September 30 of this year.

One of the most eye-catching points on the balance sheet is the increase of net debt, from £247.2 million to £384.5 million, a rise of 55.5% or £137.3 million.

The club's wage bill has dropped by 8.8% "primarily due to reductions in player salaries as a result of non-participation in the UEFA Champions League", the statement said.

United's executive vice-chairman Ed Woodward said: "We have a clear vision in terms of football philosophy and recruitment.

"The significant investments that we have made in recent years in areas such as transfers, recruitment infrastructure, analytics and our academy are already beginning to bear fruit.

"We are very proud to be shortly approaching a milestone 4 000th game featuring an academy player, and we are particularly optimistic regarding the considerable young talent currently coming through.

"Our ultimate goal is to win trophies by playing exciting football with a team that fuses graduates from our academy with world-class acquisitions."

United's on-field fortunes have improved in recent weeks after pressure had been growing on manager Ole Gunnar Solskjaer.

The team have won five of their last six matches in all competitions, and prior to that claimed a 1-1 draw at league leaders Liverpool.

They are seventh in the Premier League, nine points adrift of the Champions League qualification places.

- TeamTalk Media

 

Read News24’s Comments Policy

Fixtures
Saturday, 14 December 2019
Liverpool v Watford, Anfield 14:30
Sheffield United v Aston Villa, Bramall Lane 17:00
Leicester City v Norwich City, King Power Stadium 17:00
Chelsea v AFC Bournemouth, Stamford Bridge 17:00
Burnley v Newcastle United, Turf Moor 17:00
Southampton v West Ham United, St. Mary's Stadium 19:30
Sunday, 15 December 2019
Wolverhampton Wanderers v Tottenham Hotspur, Molineux Stadium 16:00
Manchester United v Everton, Old Trafford 16:00
Arsenal v Manchester City, Emirates Stadium 18:30
Monday, 16 December 2019
Crystal Palace v Brighton & Hove Albion, Selhurst Park 21:45
Logs
Team P W PTS
Previous Results

Date Home Team Result Away Team
Vote

And the 2019/20 English Premiership champions will be ... ?

 
 
Men
Women
Love 2 Meet
Sport24 on Twitter

Follow Sport24 news on Twitter

English Premiership flutter

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

Featured

The 2018/19 Absa Premiership season is in full swing. Will Mamelodi Sundowns retain their title? Or can one of Kaizer Chiefs, Orlando Pirates, Wits, SuperSport United - or another team perhaps - snatch glory from the Brazilians? Be sure to visit Sport24 for all the latest news!

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.