United income drops £38m – but club eye £500m plus

Date published: Thursday 17th September 2015 1:11

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Manchester United’s income dropped by 8.8 per cent last season – but the club expect to make more than half a billion this campaign.

United’s income fell by £38million from £433.2million – the loss of around £50million in revenues from Europe being partially offset by an increase in commercial income.

The Red Devils, however, are predicting they will become the first English club to break the half-a-billion-pounds mark in income this season.

United’s executive vice-chairman Ed Woodward said: “As we look to the new season, we are enthusiastic about our strong position, both on and off the pitch.

“In recent weeks we have further strengthened our squad with an exciting mix of experience and youth, qualified for the group stage of the UEFA Champions League, and seen an impressive launch of our partnership with adidas.

“Our record revenue and EBITDA guidance for 2016 reflects the underlying strength of our business and our confidence in its continued growth.”

United, owned by the USA-based Glazer family, also announced they will raise another 400million US dollars by selling new shares on the New York Stock Exchange.

The move was announced in a filing to the US Securities and Exchange Commission saying that the club will make 24 million Class A shares available.

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