Man United on track to earn Sh73bn

Manchester United's French striker Anthony Martial (right) celebrates scoring their third goal with Ashley Young during the EPL match between United and Liverpool at Old Trafford on September 12, 2015. The club expects to make over £500 million (about Sh73 billion) in the 2016 financial year, the club announced on Thursday, despite continued underperformance on the pitch. PHOTO |

What you need to know:

  • Second-quarter revenues rose by 26.6 percent to a record £133.8 million (about Sh19 billion), with commercial revenues up 42.5 percent to £66.1 million (about Sh10 billion) and broadcasting revenues climbing 31.3 percent to £37.3 million (about Sh5 billion).
  • Sponsorship revenue also rose by £1.6 million (about Sh235 million), keeping the club on track to generate between £500 million (about Sh73 billion) and £510 million (about Sh75 billion) in revenues for the current financial year.
  • Despite Woodward’s upbeat message, uncertainty continues to swirl around United manager Louis van Gaal, who has battled speculation about his future for several months.
  • United limped out of the Champions League in the group phase and face a battle to qualify for next season’s tournament as they currently lie six points below the top four in the Premier League.

LONDON

Manchester United expect to make over £500 million (about Sh73 billion) in the 2016 financial year, the club announced on Thursday, despite continued underperformance on the pitch.

Second-quarter revenues rose by 26.6 percent to a record £133.8 million (about Sh19 billion), with commercial revenues up 42.5 percent to £66.1 million (about Sh10 billion) and broadcasting revenues climbing 31.3 percent to £37.3 million (about Sh5 billion).

Sponsorship revenue also rose by £1.6 million (about Sh235 million), keeping the club on track to generate between £500 million (about Sh73 billion) and £510 million (about Sh75 billion) in revenues for the current financial year.

“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,” said executive vice-chairman Ed Woodward in a statement.

“Our solid results off the pitch help contribute to what remains our number one priority - success on the pitch.”

UNCERTAINTY CONTINUES

Despite Woodward’s upbeat message, uncertainty continues to swirl around United manager Louis van Gaal, who has battled speculation about his future for several months.

United limped out of the Champions League in the group phase and face a battle to qualify for next season’s tournament as they currently lie six points below the top four in the Premier League.

They remain alive in the FA Cup and Europa League, but were knocked out of the League Cup by second-tier Middlesbrough.

Reports emerged last week that United have opened talks with Jose Mourinho, sacked by Chelsea in December, to replace Van Gaal as manager.

But Woodward was not asked about Van Gaal’s position in a conference call with investors on Thursday.

One investor asked about the difference between the recruitment strategies of United and Leicester City, who are flying high at the Premier League summit despite operating on a relative shoestring budget.