Manchester United have reported record revenues for the last financial year with broadcasting sales up on the previous 12 months – but the failure to make this year’s Champions League is likely to dent next year’s results.
The Old Trafford club reported total revenues of £627.1m for the year to June 30th 2019, against £589.8m the previous year. EBITDA was up from £176.8m to £185.8m.
Commercial revenue was down by 0.3% to £275.1m while broadcasting sales rose from £204m to £241m, mainly due to an improved Champions League broadcasting rights agreement.
Sponsorship revenue stayed around the same as last year at £173m, with lower revenue from a shorter summer tour offset by an increase in underlying sponsorship revenues driven by 10 new or renewed global sponsorship deals.
The club said it expected total revenues next year to be down to between £560m and £580m, with total adjusted EBITDA in the range of £155 to £165 million.
Ed Woodward, Executive Vice Chairman, said the progress made off the pitch “underpins the continued investment in the football side”.
He added in a conference call: “Whilst we’re confident this investment will deliver results, it’s important that we’re patient, while Ole (Gunnar Solskjaer) and his team build for the future. We will continue to focus on the long-term strategy and wont be influenced by short-term distractions.”
