Manchester United’s profits more than doubled in the six months to the end of December as revenues hit record levels. The club may be struggling on the pitch, but it is top of the league off it, in its ability to generate revenues. Turnover surged 32.4% to £257.4m, while adjusted earnings powered ahead 55.8% to £97.7m. Pre-tax […]
Ed Woodward
Manchester United appoint new financial chief
Manchester United has somebody new in charge of the purse strings at Old Trafford after appointing Cliff Baty as its new chief financial officer. The 45-year-old, an accountant who trained with EY and has worked at Ladbrokes, will join from Sportech, the pools and gaming business, where he is a board director and chief financial officer. […]
Manchester City sign United target Nicolas Otamendi while the Reds also miss out on Pedro after Chelsea’s late swoop
Manchester City have confirmed the signing of Valencia defender Nicolas Otamendi on a five year deal. The 27 year old central defender reached the Copa America final with Argentina alongside new City team mates Sergio Aguero, Pablo Zabaleta, and Martin Demichelis. Otamendi will know a couple more of his new squad mates having also played […]
Manchester United could lose £50m in revenue this season by failing to qualify for the Champions League
Manchester United could lose almost £50million in revenue after failing to qualify for this season’s Champions League. The true cost of not finishing in the top four will be revealed tomorrow when the Reds release financial results for the first quarter of 2014/15. Revenue is expected to fall by £38million and £48m this campaign as […]
Manchester United budget for a third-place finish and Champions League return
Manchester United is desperate for a returns to the Champions League following their £150million spending spree and has budgeted for a third-place finish this season, according to executive vice-chairman Ed Woodward. In a conference call to investors after revealing the club’s full-year results on Wednesday, Mr Woodward was bullish on prospects having appointed Louis van Gaal and sanctioning […]