Sharp rise in revenue for Man United

2013-11-16 00:00

MANCHESTER — English soccer champions Manchester United reported a 29% increase in revenue to £98,5 million (R1,6 billion) in the three months through to September, after sponsors and TV deals pushed the quarterly figure to a record high. The club also welcomed the latest broadcast deal, under which BT will pay about £900 million for rights to European club soccer for three years from 2015.

The club reported a core profit of £22 million in the quarter, an increase of 36%. United, who won the English league title for the 20th time in May, have new sponsorship deals with companies that include Russia airline Aeroflot and soft-drink company PepsiCo.

United, controlled by the American Glazer family, are forecasting revenues for the year between £420 million to £430 million, closing the gap on European rivals Real Madrid and Barcelona.

United shares, which have been on the New York Stock Exchange since August 2012, closed at $15,75 on Wednesday, valuing the club at $2,6 billion.

The stock has risen from a flotation price of $14 and its performance has defied critics, who argue that soccer clubs are a risky investment that is best left to fans. publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire network.