Manchester United Revenues Fall on Champions League Absence

Hamilton Nwosa
Writer

Ad

Oil Prices Rally as the Geopolitical Risk Premium Rebuilds

Light crude oil futures rose for the week, closing Thursday at $63.52, up $1.54 or +2.48% from last Friday’s close, as geopolitical tensions, bullish inventory data, and renewed demand optimism drove a shift in market sentiment. The recovery followed two weeks of selling pressure and marked a return of bullish interest as supply-side risks reentered…

Japan designates Kisarazu as official hometown for Nigerians

In a landmark move to boost cultural ties and economic cooperation, the Government of Japan has designated the city of Kisarazu as the official hometown for Nigerians wishing to live and work in the country. The announcement was made on Thursday on the sidelines of the Ninth Tokyo International Conference on African Development (TICAD9), held…

FG to raise N200bn through two bond offers at August auction

By Obinna Uballa The Debt Management Office (DMO) has announced plans to raise N200 billion through two Federal Government bond offerings scheduled for auction on August 25, 2025. According to a notice issued by the DMO on Friday, the subscription price for each bond is fixed at N1,000 per unit, with a minimum subscription requirement…

Ad

English Premier League club Manchester United posted a 10 percent fall in first quarter revenue as the absence of lucrative Champions League soccer this season took its toll.

United, currently seventh in the table and still struggling with what has been a dismal transition since Alex Ferguson retired as manager in May 2013, said total revenue fell to 88.7 million pounds ($139 million) in the three months to Sept. 30.

That compared to 98.5 million pounds posted a year ago but was ahead of an analyst consensus forecast of 86 million pounds.premier league, Manchester United Club

An 8.6 percent drop in adjusted core earnings to 20.3 million pounds was also ahead of analyst expectations of 14.5 million, helped by a rise in sponsorship money and a lower wage bill.

“While we recognize that the 2014/15 fiscal year financial results will reflect our absence from the Champions League… we are excited to focus our efforts on the meaningful growth opportunities in sponsorship, digital media and retail and merchandising,” United Executive vice chairman Ed Woodward said.

Manchester United Club’s global appeal, which is says stretches to 659 million followers, continued to prove lucrative, with five sponsorship deals signed in the quarter as well as a world record 750 million pound kit deal with Adidas.

However, its broadcasting and matchday revenues took a hit, falling 13 and 22 percent respectively, as the impact of last season’s failure to qualify for the Champions League, Europe’s top club competition, was laid bare. This season is the club’s first without European soccer for over two decades.

United, majority owned by the American Glazer family, reiterated expectations for lower full-year revenue of 385-395 million pounds, and core earnings of 90-95 million.

Under Dutchman Louis van Gaal, who took over as coach for the start of the season after an ill-fated spell for Ferguson’s replacement David Moyes, the club have spent heavily on the likes of Argentine winger Angel di Maria and young English defender Luke Shaw to improve their fortunes.

Progress has been mixed, however, and the 20-times champions are 13 points adrift of Premier League leaders Chelsea after 11 games, and are out of the League Cup.

 

Ad

X whatsapp