ManU's $247M Summer Spending 'Only The Beginning' As Club Rakes In Revenue
ManU has warned Premier League rivals that its £150M ($247M) summer spending spree "is only the beginning," after raking in "huge commercial revenue" from its sponsors, according to Alex Miller of the London DAILY MAIL. Far from "putting away the cheque book," sources close to the club said that "the hunt for further Galacticos will continue, paid for by the expanding commercial revenues generated by the club, described as more than sufficient to fund the current and additional player costs." In the latest full-year accounts released for the club, covering the '12-13 season, ManU’s "commercial operation pulled in" £152.5M ($251M). However that figure "has grown dramatically," with estimates suggesting that figure will be closer to £190M ($313M) when the next full-year results -- which cover '13-14 -- are released later this month. Accounts covering the current season "are expected to show commercial income" closer to £240M ($395M) when they are released next year. The club’s "unprecedented spending spree is being paid for by a number of major deals." According to the club’s official website, "the club currently has 29 sponsors and commercial partners." These include the £47M ($77M)-a-year "shirt sponsorship deal with Chevrolet." ManU's "world-record deal" was agreed and signed in '12 on terms of $559M over seven years, starting this season. Chevrolet has replaced ManU’s previous deal with Aon, which was worth £20M ($33M) a year. Next season "will see the start of another record-breaking deal" when adidas takes over from Nike as the club’s kit provider in an agreement worth a "staggering" £750M ($1.2B) over 10 years -- £75M ($123M) a year (DAILY MAIL, 9/3).