Man Utd revenue falls as Champions League absence takes toll

By Daily Sports Nigeria on November 27, 2024

Manchester United suffered a £14 million ($17.6 million) drop in total revenue, falling to £143.1 million, as the absence from the lucrative Champions League affected their finances, according to first-quarter results released on Tuesday.

However, the club reported a net profit of £1.4 million for the period from July to September, compared to a £25.8 million loss during the same period last year. This improvement was attributed to favourable foreign exchange rates.

The Red Devils finished eighth in the Premier League under former manager Erik ten Hag last season — their lowest-ever placing — which meant they missed out on Europe’s top club competition.

As a result, broadcasting revenue fell by 20.4 percent to £31.3 million for the quarter ending September 30.
United’s FA Cup win last season means they are competing in this season’s Europa League instead.

Commercial revenue decreased by 5.6 percent to £85.3 million, with matchday revenue dropping by 3.3 percent to £26.5 million.

The club recorded “exceptional” costs of £8.6 million, which it said “comprise costs incurred in relation to the restructuring of the group’s operations, including the redundancy scheme implemented in the first quarter of the 2025 financial year.”

British billionaire Jim Ratcliffe’s INEOS group took over football operations earlier this year after purchasing a minority stake in the club. They initiated several cost-saving measures, including plans to cut around 250 jobs.

United’s chief executive, Omar Berrada, stated that cost and headcount reductions were “on track,” as was the renovation of the club’s Carrington training ground.

He also confirmed that a task force assessing the benefits of redeveloping Old Trafford or building a new stadium on adjacent land was continuing its work.

Despite earning record revenues, United ended their financial year in June with net losses of £113.2 million, marking their fifth consecutive year of losses.

The club is predicting total revenue for 2025 to be between £650 million and £670 million.

Ruben Amorim, who replaced the sacked Ten Hag earlier this month, took charge of his first game at Ipswich on Sunday, which ended in a 1-1 draw.

United currently sit 12th in the Premier League table after a poor start to the season, six points adrift of the top four teams, who qualify for the Champions League.

Source Punch Ng

Posted November 27, 2024


 

You may also like...
2020 NBA Draft: Oyedeji Lauds Nigerian Players

Why I Rejected NFF Technical Director Job —...

AFCON qualifier: Libya in crisis ahead Nigeria clash...

Niger Tornadoes Beat ABS FC 2-0

How Capt. Lawal, Rev. Jesimiel, Coach Emefuna made...

Rivers Utd Will Bounce Back Gainst Akwa Utd,...

 

Latest News Anambra School Sports Festival Ends In Emotional Grand Style As Njikoka Emerge Champions Club W’Cup: Chelsea face travel woes after group stage upset Lyon included in Ligue 1 fixtures despite demotion Adesanya eyes Strickland fight for UFC return Wilder ends losing streak, but questions linger Brentford reject Man Utd's new £62.5m Mbeumo bid After 31 Years, FG Hands Over Houses To 1994 Super Eagles Heroes Ronaldo signs new deal with Saudi club Al-Nassr Leicester part company with manager Van Nistelrooy 'Wilder v Paul next? You wouldn't flinch' UFC fighters to receive up to $1m in settlement payout 17 States Confirm Plans To host Olympic Day

 

Most Read Rangers International going, going . . . (55,552 views) Amaju Pinnick: A cat with nine lives (46,712 views) Second Term: Amaju Pinnick, Other NFF Heavyweights Home to Roost •How Pinnick Broke the Jinx (44,728 views) Current issues in Nigerian sports: Matters arising (44,322 views) Missing $150,000 IAAF Grant: Solomon Dalung’s Hide and Seek game (44,322 views) Sports Development: Zenith Bank on the zenith (44,312 views) Gov. Abdullahi Ganduje’s solid footprints, commitment to sports development in Kano State (44,114 views) NFF Presidency: Pinnick, Maigari, Ogunjobi, Okoye in Battle for Supremacy (43,658 views) Olopade, BET9A wave of revolution in NNL (42,768 views) Commonwealth Games 2018: Shame of Muhammadu Buhari, Solomon Dalung (41,378 views) Ibrahimovic’s Man U exit: Whose decision is it? And in whose interest? (39,824 views) John Mikel Obi: Segun Odegbami’s Outrageous Call! (39,247 views)

 

Phone numbers

Tel: +234(0)8066020976
+234(0)8055068145
+234(0)7013416146
+234(0)8094272884

Email addresses

info@dailysportsng.com
support@dailysportsng.com
publisher@dailysportsng.com

Office address

No 3, Adetoun Close, Off College Road, Ogba, Ikeja Lagos.
Website: www.dailysportsng.com

Social Media