United Reveal Record £98m Revenues After 62.6% Increase In Commercial Income
Man Utd have revealed record revenue figures of £98m for the first quarter of the financial year thanks largely to a 62.6% increase in their commercial income
Manchester United have revealed record quarterly revenue figures of £98m for the first quarter of the financial year thanks largely to a 62.6% increase in their commercial income, as reports the Independent.
The Premier League champions commercial team has continued to be extremely busy throughout the summer in tying up a number of lucrative new partnerships all across the globe.
In total, United secured 12 new sponsorship deals during the first quarter of the financial year, the latest of which saw United enter a new worldwide partnership with Russian airline Aeroflot as well as seal a deal with leading softdrinks manufacturer Pepsi. Overall, the new deals saw the club increase it’s commercial income by 62.6%.
Executive vice-chairman Ed Woodward said in a statement today that the club were delighted by the results and they expect the commercial team to continue to drive growth in the future:
“We are pleased to have achieved another record first quarter, driven by the strength of our commercial business and increased broadcasting revenues,”
“Our unique approach to the commercial business will continue to drive future growth.” Woodward is quoted as saying by the Independent
Broadcasting income also saw a significant increase of 40.9% thanks largely to the new Premier League TV deal kicking in and Woodward says he is excited by BT Sports new deal for exclusive Champions League and Europa League football rights. Woodward continued:
“We are excited by the continuing rise in the value of sports content, evidenced, amongst other things, by the recently-announced BT deal for the UK rights to broadcast the Champions League and Europa League matches for three seasons from 2015-16,” Woodward said.
“This deal represents a meaningful increase over the current arrangement, which should translate into higher broadcasting revenues for the participating clubs.”
BT recently won the right to show European football for three years from 2015 onwards after blowing Sky and ITV out the water with a £900m package, which will mean more money will be passed onto the clubs in the not-to-distant future.
Overall, the increase in both commercial activity and broadcasting income saw United post record first quarter revues of £98m – an increase of 29.1%.
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