Manchester United Post Record Revenues
Wed 10th Sep 2014 | Money & Finance
Manchester United have posted record annual revenue of £433 million but has warned that this is likely to fall in 2015.
Failure to secure Champions League qualification after a disastrous 2013/14 Premier League campaign in which they finished seventh under David Moyes' stewardship is likely to have a huge impact on the club's revenues next year.
The financial results for the year ending June 30th 2014, published today show that commercial revenues topped £189.3 million, an increase of £36.8 million, or 24.1%, over the prior year. But forecasts noted within the results show they expect total revenues to fall to around £385 to £395 million in 2015.
The club's retail and merchandising fell £1.1 million to £37.5 million, whilst their mobile and content division saw a decrease of 30.4% on the previous year to £16.0 million.
Matchday revenue for the year was £108.1 million, a decrease of £1.0 million, or 0.9%, over the prior year, primarily as a result of hosting a number of matches during the London Olympic Games in the prior year.For the fourth quarter, matchday revenue was £18.0 million, a decrease of £2.6 million, or 12.6%.
Exceptional items for the year were noted as totalling £5.2 million. This related to compensation payments on loss of office to David Moyes and members of his coaching staff.
Commenting on the results, Ed Woodward, Executive Vice Chairman, said: “We are very proud of the results achieved in fiscal year 2014 as we once again generated record revenues and EBITDA driven by our commercial and broadcasting businesses which delivered impressive year over year growth.
"We also recently announced a record breaking deal with adidas and very much look forward to launching this partnership next summer.
"With Louis van Gaal at the helm as Manager, and the recent signing of some of the world’s leading players to further strengthen our squad, we are very excited about the future and believe it's the start of a new chapter in the Club’s history.
"Louis’ footballing philosophy fits very well with Manchester United and he has an impressive track record of success throughout his career, winning league titles with every club he has managed.”
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