The rise in revenue is in no small part to the enormous agreement in place with kit manufacturers Adidas and the 14 new partnerships added to United’s portfolio, the sacking of Louis van Gaal and his staff amounted to a meager £8.4 million (less than Everton had to fork out to oust Roberto Martinez) and the money spent in the summer has come nowhere near to having an impact on the finances.
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This summer Manchester United Plc (NYSE:MANU) smashed the world transfer record as they reclaimed French superstar Paul Pogba for a fee reported to be in excess of £100mln, but, that’s less than a fifth of the club’s revenue for 2016.
Mourinho left Schweinsteiger out of his Europa League squad and has told the 32-year-old he has only the remotest chance of playing this season, because the Portuguese manager will promote youngsters into his squad should injuries or suspensions affect his central midfielders.
Reporting its finances for the year to June 30, 2016, MUFC said the club generated revenues of 515.3 million pounds (685 million U.S.dollars), up by 30 percent on a year earlier. Adjusted core earnings jumped 53% to £49.3m pounds.
Executive vice-chairman Ed Woodward believes Manchester United are entering an exciting new chapter that can return the club to football’s “pinnacle”.
The company said it expects full-year revenue of between GBP530 million to GBP540 million.
The only slight downer is that United can not claim to be the first football club to generate annual revenue in excess of £500m. The figure is short of the €679m (about £570m or N2.565 trillion) revenue revealed in July by Spanish giants FC Barcelona.
Commercial revenue increased 36.3% to £268.3m which was helped by a new kit deal with Adidas, helping retail revenues rise 207.9%. These players will better position us to challenge for trophies in the coming years. Broadcasting revenue was up 30.4% to £140.4mn and match-day revenues rose 17.7% to £106.6mn.
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According to the Daily Mirror, Schweinsteiger is earning £190,000-a-week, with two years left on his deal, “meaning that unless he and United reach a compromise, they still face paying him another £19million until it expires in 2018”.
