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ManU achieved "record annual revenues last season, boosted by a new broadcasting deal for English football and trophy wins," according to Murad Ahmed of the FINANCIAL TIMES. The team finished the '16-17 season by winning the Europa League title and the League Cup. It started this season with a "series of victories that have propelled" the club to a share of first place in the Premier League with Man City. ManU on Thursday released its full-year results for the year to June 30. Revenues increased 12.8% compared with the previous season to £581.2M ($789.2). EBITDA increased more than 17% to £199.8M ($271.3M). Pre-tax profits also increased 7.7% to £39.2M ($53.2M). The financial performance beat the club's guidance provided in May, when it projected annual revenues of £560M-£570M ($760.4M-$774M) and EBITDA of £185M-£195M ($251.2M-$264.8M). ManU has been boosted by a £5.1B ($6.9B) domestic broadcasting deal signed by the Premier League with Sky and BT that "raised income at all 20 clubs in England's top division." The club earned £194.1M ($263.6M) in broadcasting revenues, up more than 38.2% from the previous season (
FT, 9/21). The BBC's Bill Wilson reported the club is back in the Champions League this season "thanks to its Europa League final victory" over Eredivisie side Ajax in May. It is the second successive year ManU has accrued revenues of more than £500M ($679M), recording a figure of £515.3M last year. Employee wages -- including those of players -- increased by 13%, "primarily due to an increase in first team salaries." Operating expenses for the year were £511.3M ($694.3M), an increase of £74.7M ($101.4M), or 17.1%, on the previous year. However, net debt fell by £47.8M ($64.9M) to £213.1M ($289.4M). Commercial revenue rose 2.7% to £275.5M ($374.1M). Money from sponsorship, retail and licensing was up, but the club said that it lost 15% over the year on its digital output. Matchday revenue climbed 4.7% to £111.6M ($151.5M), but ManU said that this was "primarily due to playing two more home games in the year" (
BBC, 9/21).
