Citing strong financial returns as the pedestal from which the club can invest in more players, he hoped that the club would be able to challenge the top clubs on and off the pitch.
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Its overall revenues grew by 30% as the club’s commercial activities offset the financial shortfall suffered when Louis van Gaal’s final season failed to secure Champions League football.
Commercial revenues accounted for much of the improvement recorded by Manchester United past year, not least as a result of the £750m kit deal signed with Adidas. However, that figure is short of the £570m in annual revenue that Barcelona announced in July.
The club has said that its absence from the Champions League would reduce its revenue in 2016-17 by more than 30 million pounds.
Manchester United declared a record operating profit of 68.9 million pounds.
Over all, Manchester reported a loss of £957,000, or £1 a share, from a prior-year loss of £6.9 million, or £4.21 a share.
Man United will be the first English club to break the £500m mark with a revenue of £515.3m for 2015/16 season.
“Exceptional costs for the year were £15.1 million”, Woodward said. Revenues are expected to rise again next year to an overall total of as much as £540m.
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Matchday revenues were up by 18 per cent to £106.6m helped by participation in European competitions plus progression in the domestic cups. The situation surrounding the German means United no longer think they will get their money back on the player. According to the club, “domestic live broadcasting rights (are) up 70 per cent and global rights up approximately 40 per cent for the 2017 to 2019 cycle”.
