Manchester United become first UK team to earn £500m in a year
Manchester United have a lot of money. Like, a whole lot of it. And that's not changing anytime soon from the looks of it. The club's annual earnings were released for the fiscal year ending in June, and the numbers speak for themselves: United is the first UK club ever to earn over £500m in a year.
Manchester United posted record revenues of £515.3m for the 2016 financial year, only missing out on the top spot behind Barcelona's £570m. United's trophy haul comprised of the FA Cup, but off the pitch, the club signed 14 sponsorship deals, and saw commercial, matchday and TV revenues all rise.
"Our record fiscal 2016 financial performance reflects the continued underlying strength of the business and the club is on target to achieve record revenues in 2017, even without a contribution from the Champions League," said United's executive vice-chairman Ed Woodward. "This strong financial performance has enabled us to invest in our squad, team management and facilities to position us to challenge for, and win, trophies in the coming years."
United's lack of recent success on the Champions League front has seen them miss out on millions, but they've worked to cultivate multiple other streams of revenue. They're profiting handsomely from their new kit sponsor and supply deal with Adidas, plus they've moved to bring the management of Old Trafford Megastore in-house and signed several licensing deals, including with Sbenu, New Era and Columbia.
Even without Champions League this season, United's 2017 revenues are predicted to increase to upwards of £540m. Not too shabby at all.
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