CC image courtesy of Paul on Flickr
English premier league giants Manchester United announced that it expected to earn over £500m in revenues for the 2016 fiscal year following the club’s release of the 2016 second quarter results.
The club’s commercial revenues increased 42.5 per cent £66.1 million for the quarter and broadcasting revenues rose by 31.3 per cent to £37.3 million.
Manchester United Executive Vice Chairman Ed Woodward reiterated the club’s commitment in the club’s investment and improvement of the famed academy.
“Our strong commitment to investing in our squad, youth academy and the broader club are ultimately underpinned by our financial strength and the hard work and dedication of everyone at the Club. Our solid results off the pitch help contribute to what remains our number one priority – success on the pitch.” said Woodward in the club statement.
Manchester United are currently fifth in the English Premier League table. United were knocked out of the Champions League in the group stages and also lost to lowly Middlesbrough in the League Cup.