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SBD Global/September 19, 2013/Finance
Manchester United Announces Record Annual Revenue Of £362M, Up 13.4%
Published September 19, 2013
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GLAZED OVER: In London, David Conn reported ManU spent £71M in '12-13 "financing the cost of the Glazer family's debt-laden takeover of the club." Investment analyst Andy Green said that the £71M finance costs take to £680M the total cost to ManU in interest, fees, bank charges and debt repayments of the Glazers' '05 takeover of the club. ManU has "agreed huge sponsorship deals divided by types of product" -- car (Chevrolet), wine (Casillero del Diablo), betting (Bwin), airline (Aeroflot), snack (Mister Potato) "and so on" -- and by "geographical regions of the world." ManU Exec Vice Chair Edward Woodward stressed that commercial income from such sponsorships is now 42% of ManU's total at £153M, "far exceeding" the £102M from broadcasting. Woodward said, "We are very proud of our fiscal 2013. It has been a little over a year since our [flotation in New York] and we have delivered on our targets and objectives" (GUARDIAN, 9/18). In London, Roger Blitz reported the club's gross debt stands at £389.2M, down 10.9% from last year. Its "adjusted ebitda for the year rose" 18.6% to £108.6M (FINANCIAL TIMES, 9/18).
'TROUBLESOME' TRANSFER WINDOW: The PA's Simon Stone reported broadcast revenue, however, "has dipped" 2.3% to £101.6M as ManU gained only a 25% share of Champions League revenue paid to England's four competing clubs last season. The "impressive commercial results" come as ManU is explaining its "troublesome transfer window to supporters," with Communications Dir Phil Townsend "insisting funds were available to Moyes," even though he only ended up signing Marouane Fellaini from Everton. In a letter to fans who wrote to ManU for an explanation of "what appeared to be a shambolic transfer window," Townsend wrote, "The club has always backed the manager in the transfer market, as Sir Alex (Ferguson) has said on many occasions and it will continue to do so" (PA, 9/18).