UNITED'S MERCHANDISING DOWN, BUT OVERALL REVENUES STEADY

          The Premier League's Manchester United "provided
     further evidence that the boom in [soccer] replica kits
     which has played a big part in transforming the sport's
     finances over the past few years, has peaked," according to
     Patrick Harverson of the FINANCIAL TIMES.  The team reported
     a 16% drop in "full-year merchandising revenues" to $40.5M. 
     The club "admitted" demand for replica kits from "fashion-
     conscious consumers" has declined.  But United Deputy CEO
     Peter Kenyon said that the club expects to sell about one
     million kits this season.  The team is "looking to develop"
     its international merchandising business and will open its
     first foreign retail site in Dublin next month.  United,
     through a division coordinating overseas merchandising,
     plans to open 150 outlets across Ireland, Scandinavia and
     east Asia.  The team's overall revenues were unchanged at
     $149.6M, while the increase in TV revenues "meant pre-
     transfer profits rose" to $50.4M (FINANCIAL TIMES, 9/29).