Man Utd Count Cost Of Uefa Cl Absence
Manchester United’s revenue fell by 9.9% to £88.7 million for the three months through until the end of September, after missing out on payments from Nike by failing to qualify for the Uefa Champions League.
United’s overall income for the first three months was down £9.8m, but the club did record a profit of £8.9m.
Unveiled in the latest set of financial results, executive vice chairman of the club, Ed Woodward, commented that the club had ‘signed the largest kit sponsorship deal in the history of sport in the first quarter and, with that concluded, we are excited to focus our efforts on the meaningful growth opportunities in sponsorship, digital media and retail and merchandising.’
The club’s kit deal with Adidas, which begins at the start of the 2015/16 season, is worth £750 million over ten years whilst the club also secured five additional sponsorship deals in the quarter.
The new partnerships included: Nissin and Abengoa (global), Association of Football Federations of Azerbaijan – AFFA (regional), Maybank and Gloops (renewals of regional).
However, revenues from both broadcasting and match days fell as the team missed out on Europe’s premier club competition for the first time in two decades.
United added that its full year revenue would be between £385m and £395m, around £40m lower than the previous year.
