Manchester United have revealed their financial results for the first quarter of the fiscal year – and revenue is up 39.3 per cent on 12 months ago.
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It is understood that adidas will make monthly payments to the club who also took back a number of merchandising rights from previous partners Nike.
The club’s new kit deal with Adidas contributed to a 185.9per cent increase in merchandising revenues to £22.3m.
The Old Trafford club failed to qualify for Europe’s premier club competition last season but its return to Champions League competition has seen a big leap in matchday and broadcast revenues.
Manchester United executive vice-chairman Ed Woodward has warned English clubs about the possibility of losing a Champions League spot this season.
He said: ‘Our record first quarter revenues demonstrate the continued strength of our businesses.
United reiterated expectations for higher full-year adjusted core earnings of 165 million to 175 million pounds, up from 119.9 million pounds last year.
However, the profit for the period has dropped down 43.8%, which was partly caused by the negative impact from the sales of players like Angel di Maria, Robin van Persie and Nani.
That compared with a profit of £18.3m a year before – that sum being largely due to the sale of Danny Welbeck to Arsenal for £18m.
The first instalment of a share dividend, which will produce the Glazer family £15m a year, will be paid in January.
In a controversial move announced with the release of the 2014-15 figures, United disclosed that each investor would receive $0.045 every quarter for each share they own.
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However, United’s debt has also gone up to £286.2m, which the club attributed to the change in the exchange rate between the British pound and the American dollar.
