English giants Manchester United have recorded revenues of £581m after the club’s financial record for 2017 were released.
This makes it the second successive year that the club have accrued revenues of over £500m following a revenue of £515.3m last year and this latest financial boom is coming on the back of the club’s return to the Deloitte money list in January.
Manchester United won the UEFA Europa League (UEL), FA Community Shield and the EFL Cup on the field last season and those successes were matched by huge revenues off field as TV cash increased rapidly.
The Old Trafford club also signed a whooping 12 sponsorship deals in addition to having matchday and commercial revenues soar.
The Red Devils benefitted from a significant increase in domestic TV revenues during the 2016-17 season, which was the first season in the present 3-year UK broadcasting deal.
In the year ending June 30, broadcast income rose by 38% from £140.4m (the year before) to £194.1m.
Speaking about the new financial results, executive vice-chairman Ed Woodward stated that the club is looking forward to an exciting season. He said:
“We concluded a successful 2016-17 season with a total of three trophies and a return to Champions League football.”
“We are pleased with the investment in our squad and look forward to an exciting season.” he added.
The new financial results would be music to United fans who have seen their team return to the UEFA Champions League (UCL) and also witnessed the impressive start they have made in the new English Premier League (EPL) season.