By Brian Bariyo Tumuramye
Manchester United have announced a club-record revenue for the 2018/19 season, but they expect profits to fall considerably after missing out on Champions League qualification.
United continue to perform well off the field despite Ole Gunnar Solskjaer’s side performing poorly on the pitch, with just eight Premier League points from six games this season.
The club spent almost £150m in the summer on the three significant signings of Harry Maguire, Aaron Wan-Bissaka and Daniel James, yet their financial prominence still continues to grow.
Executive vice-chairman Ed Woodward insists Manchester United have a “primary objective of winning trophies” after the successful financial year.
In a statement, Woodward said: “We remain focused on our plan of rebuilding the team and continuing to strengthen our youth system, in line with the philosophy of the club and the manager.
“This is reflected in the recent addition of three exciting first-team players, key player contract extensions and the talent we have coming through our academy.
“Everyone at Manchester United is committed to delivering on our primary objective of winning trophies.”
However, revenue is forecast to significantly drop over the next financial year, after missing out on Champions League qualification due to their sixth-place Premier League finish last season.
United expect adjusted core profit of £155-£165m, down from £185.8m last year and will not be able to fully capitalise on UEFA’s broadcasting revenue distribution system. (Xanax)
