Manchester United reaches £500m milestone

Manchester United reaches £500m milestone

Manchester United has become the first ever UK football club to turnover more than half a billion pounds in a single year.

Manchester United saw total revenues soar to £515.3m for the 12 months ending 30 June 2016, making it the first UK club to surpass the half a billion mark.

The results have been boosted by Premier League Domestic live broadcasting rights rising by 70% and International rights rising by approximately 40% for the 2017 to 2019 cycle.

During the period, the club also won the FA Cup for a record equalling 12th time, appointed Jose Mourinho as its new manager and launched its hugely successful new 2016/2017 kit with Adidas.

Ed Woodward, executive vice chairman of Manchester United, believes the foundations the club has built leave it in a strong position to build on this well into the future.

He said: “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.

“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.”

One of the club’s most profitable revenue streams was its commercial activity which reached £268.3m over the course of the year, an increase of £71.4m, or 36.3%, over the prior year.