ManU has appointed Cliff Baty as CFO amid "growing optimism at Old Trafford that the club will become the richest in the world within 12 months," according to Mike Keegan of the London DAILY MAIL. Baty has taken the newly-created post in a move ManU said was taken "to meet the growing needs of such a rapidly growing business." The club is estimating record revenues of £500M ($765M) for the coming year, "thanks in no small part" to its world record, £750M ($1.15B), 10-year kit deal with adidas. Should that come off, ManU is "likely to overtake Real Madrid," which has topped Deloitte's rich list for the last 10 years. But it is '16-17 "which has got Old Trafford top brass even more excited." Because that is when the "seismic effect" of the Premier League's £5B ($7.65B) TV rights agreement will kick in. The "staggering deal will mean that even the side finishing bottom of the table" will pocket £99M ($151M), with those at the top looking at around £150M ($230M). A ManU spokesperson said, "Revenues in the current year are expected to grow from £395 million ($604M) to over £500 million ($765M) (26% projected increase)" (DAILY MAIL, 10/27).
