Manchester United Announces Record Revenue

21 Sep 2017 | tshego

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Manchester United has announced record revenue and profit, with figures topping half a billion in revenue for a second consecutive year.

The club turned over £581.2m and achieved a record operating profit of £80.8m and record earnings of £199.8m before interest, tax, depreciation and amortisation. Previous records were set of £515.3m turnover and £68.9m operating profit – set last year.

The club’s net debt also dropped from £260.9m to £213.1m, however, the club’s gross debt remains the same. The club’s wage bill also rose by £31.3m to £263.5m, which excludes acquisitions following 30th June and represents the Premier Leagues biggest outlay.

United are expecting to post a revenue of between £575m and £585m for the year ending 30th June 2018, but did note that profits will be down due to an increased wage bill.

United executive vice-chairman Ed Woodward said: “We concluded a successful 2016/17 season with a total of three trophies and a return to Champions League football. The year saw us set record revenues of over £581m and achieve a record EBITDA of £199.8m. We are pleased with the investment in our squad and look forward to an exciting season.”