Manchester United, the only sports team with publicly traded stock, announced record second-quarter revenues of £133 million today. That’s up 26 percent from last year. Despite their grim prospects for getting back into Champions League this season, they still expect an income between £500 million and £510 million for the current fiscal year.
If they reach those projections, it will represent an increase of £105 million above the 2014-15 financial year.
They will also become the first Premier League club ever to reach the half a billion mark in income for a financial year.
Many experts predict that United would lose out on £50 million should they miss out on the European Cup. However, the strength of the Manchester United brand remains a tour de force. Their record setting commercial and corporate partnerships will keep their revenue at an elite level.
Manchester United Executive Vice President Ed Woodward said on his conference call to investors:
“Our strong commitment to investing in our squad, youth academy and the broader club are ultimately underpinned by our financial strength and the hard work and dedication of everyone at the club.”
“Our solid results off the pitch help contribute to what remains our number one priority — success on the pitch.”
He was expected to possibly have to answer tough questions today about the managerial situation, but that didn’t happen.
If Woodward was actually asked those questions today, then he didn’t give a noteworthy response because there is no coverage of that topic originating from the conference call today.
Had Woodward said something, anything at all, it would be headline international news right now.
Paul M. Banks runs The Sports Bank.net, partnered with FOX Sports Engage Network. and News Now. Banks, a former writer for the Washington Times, currently contributes regularly to the Chicago Tribune’s RedEye publication and Bold Global.
He also consistently appears on numerous talk shows all across the country. Follow him on Twitter and Instagram