Manchester United expected to announce record revenues
Manchester United are expected to announce record revenues of approximately £420 million on Wednesday when they publish their annual results for the last financial year.
New Delhi: Manchester United are expected to announce record revenues of approximately £420 million on Wednesday when they publish their annual results for the last year.
Despite a disastrous campaign in the 2013-14 season, the club is expected to announce a profit of £25m, which was predominantly driven by worldwide sales of two million replica shirts.
Pay-off to former manager David Moyes will also be part of the results. But the losses incurred due to failing to qualify for the UEFA Champions League will not be part of this accounts list.
Forecasts for the headline figures have already been published in a prospectus published in August for a new release of shares on the New York Stock Exchange, with the US-based Glazer family the majority stakeholders in the English football institution.
The prospectus said: "The Manchester United jersey and training wear are completely redesigned for each season. The annual launch of the new jersey is always a much-anticipated day for our global community of followers.
"The result is a robust wholesale apparel business that sold approximately five million items of Manchester United branded licensed products, including approximately two million replica jerseys, around the world in the last year."
The Old Trafford club finished seventh in the Premier League last year and failed to qualify even for the Europa League. After the sacking of Moyes, Louis van Gaal was anointed as United's manager on a three-year-contract.
Despite striking lucrative sponsorship deals off the pitch, United's woes have continued on it. The club is yet to register a win in the league this year and have already been dumped out of the League Cup. They face QPR at Old Trafford on September 14 where majority of their new recruits like Daley Blind, Marcos Rojo and Radamel Falcao are set to make their debuts.
With agency inputs