The full cost of ManU’s absence from the Champions League "has been laid bare as the club announced a dramatic" 8.8% fall in revenue last season, according to Mark Cue of the LONDON TIMES. Failure to "qualify for the riches of Europe’s premier club competition resulted in an income dip from a record high" of £433.2M ($676.6M) 12 months ago to £395.2M ($617.2 M) for the '14-15 campaign. The main contributors were a 16% fall in match-day earnings, down to £90.6M ($141.5M), and a "decrease in broadcast revenue of more than a fifth," down to £107.7M ($168.2M). The dip, however, "could have been as steep as about" £50M ($78M) but "was offset partially" by a 4% increase in commerical income, which now stands at £197M ($308M). ManU Exec Vice Chair Ed Woodward "was in bullish mood this lunchtime" despite the £38M ($59M) dip, "predicting that United will become the first English club to break" the £500M ($781M) mark in income this season (LONDON TIMES, 9/17). The PA wrote ManU, owned by the U.S.-based Glazer family, also announced they will raise another $400M "by selling new shares" on the N.Y. stock exchange. The move "was announced in a filing" to the U.S. Securities & Exchange Commission saying the club will make 24 million Class A shares available (PA, 9/17). In London, Martyn Ziegler noted Woodward "has raised the prospect of more expensive signings by the club next year by predicting bringing fewer players in -- but not necessarily less spending." Woodward said that he "anticipated fewer players coming into the club -- but could not guarantee a drop in the overall amount spent on transfer fees." Asked by one investor if '15 represented a peak in terms of capital investment in players, Woodward said, "I think it's impossible to answer that question. We have seen a large number of ins and outs in terms of the squad in the last couple of summer windows" (INDEPENDENT, 9/17). REUTERS' Neil Maidment noted ManU's annual profit is expected to jump by as much as 46%, "boosted by a return to Champions League soccer." The club said that it "expected 2016 adjusted core earnings to be between" £165-175M ($258-273M) (REUTERS, 9/17). In London, David Conn reported the six children of the late Malcolm Glazer who own ManU will be paid more than £15M ($23M) every year from the club after it was announced that there "will be a dividend to shareholders." The five sons and one daughter will be paid $3.9M each annually "as the majority shareholders of Manchester United plc." The Glazer siblings "together own approximately" 131 million shares, "80% of the total issued," according to a club spokesperson. The company said that the decision to pay the dividend, the first since the Glazer family floated the club on the N.Y. stock exchange in '12, was "made by the board, on which all six of the Glazer siblings sit." In a conference call with investors, ManU Finance Dir Henen Tseayo said that the decision to pay a dividend "was because of the club’s strong financial and commercial performance" in '14-15, and "predictions of record income and underlying profits" in '16 (GUARDIAN, 9/17). The FINANCIAL TIMES wrote the "disappointing performance over the last two seasons comes despite huge outlays on new players." Last summer, the club "broke the British transfer record" with the £59.7M ($93.2M) acquisition of Argentinian winger Angelo Di Maria from Real Madrid. United "sold him only a year later" (FT, 9/17).
