Despite their struggles on the pitch this season, Manchester United are a money-making machine off it, and the Premier League side is on target to become the first British club to earn more than £500m in one year.
United announced in their second-quarterly financial results on Thursday that they expect revenue for the year to hit £500-510m. That translates into about €638m, which would put United right behind Real Madrid as the two biggest clubs in the world, in terms of revenue.
United announced a record second-quarter revenue total of £133.8m, up 26.6% on last year fueled once again by commercial revenue which was £66.1m in the second quarter– an increase of 42.5% on the previous year. Broadcasting revenues were also up 31.3% and sponsorship revenue for the second quarter was up £1.6m to £37.4m.
United’s executive vice-chairman Ed Woodward said:
“Our strong commitment to investing in our squad, youth academy and the broader club are ultimately underpinned by our financial strength and the hard work and dedication of everyone at the club.
“Our solid results off the pitch help contribute to what remains our number one priority – success on the pitch.”
There have been rumors that incoming United boss Jose Mourinho will be handed a £300m summer transfer kitty, and United seem to have been saving up for a summer spending spree as the club is sitting on a war chest of £121.6m, up from £37m a year ago.