Manchester United announce record annual revenues

Updated: Sep 18, 2013, 21:50 PM IST

Manchester United has announced record revenues of 363.2 million pounds for the 12 months to June 2013 - a 13.4 percent increase on the previous year.

A 29.7 percent rise in commercial revenues is primarily responsible for the increase, with new sponsorship deals, merchandising and product licensing generating 152.5 million pounds.

This helped United record a net profit of 146 million pounds, while club debt - long a source of fan criticism of the club`s owners, the Glazer family - falling 10.9 percent to 389.2 million pounds.

Ed Woodward, United`s executive vice-chairman, is delighted with the results and believes the club`s future looks even brighter.

"We are very proud of our results for fiscal 2013," he said. "Our commercial business continues to be a very powerful engine of growth enabling the team to continue to be successful.

"We won our 20th English League title last season and are delighted to have David Moyes lead our football team into a new and exciting chapter. We look forward to a successful 2013-14, both on and off the pitch."

Wages have increased, up 11.6 percent to 180.5 million pounds and although much of this relates to player wages, the new digital operation has also seen an influx of new staff.

United predicts that club revenues in 2014 will likely increase further, to between 420 and 430 million pounds.