League failure hits Manchester United revenues

first_img Tags: Manchester United Share MANCHESTER United yesterday reported a 10 per cent slump in revenues for the first quarter as a lack of Champions League football started to hit the club’s coffers.In the first three months of the 2015 financial year, the English Premier League club’s total revenues fell to £88.7m, from £98.5m in the same period last year. Within that figure, commercial revenue fell 5.2 per cent to £56.8m, broadcasting revenue dropped 13 per cent to £16.8m, and matchday revenues declined 21.8 per cent to £15.1m. The club, owned by the Am­erican Glazier family, pointed to the absence of lucrative Champions League football as the reason revenues dropped off – this season is the club’s first without European football in over 20 years.United did, however, demonstrate its enduring inter­national appeal and global brand power by signing a 10-year £750m kit sponsorship deal with Adidas in the first quarter, the largest of its kind in any sport in history.Ed Woodward, executive vice chairman, commented: “While we recognise that the 2014/15 fiscal year fin­ancial results will reflect our absence from the Champions League, we signed the largest kit sponsorship deal in the history of sport in the first quarter and, with that concluded, we are excited to focus our efforts on the meaningful growth opportunities in sponsorship, digital media and retail and merchandising.” The club also reiterated its previous forecast expecting rev­enues to total between £385m and £395m for the full fiscal year 2015. Tuesday 18 November 2014 8:44 pm Ollie Gordon whatsapp League failure hits Manchester United revenues Show Comments ▼ More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com whatsapplast_img read more