Man Utd first UK football club to earn £500m in a year

United Bank for Africa

Manchester United has scored record revenues of £515.3m for the 2016 financial year, the first UK football club to do so.

In a year when it won the FA Cup, the Old Trafford club also signed 14 sponsorship deals, and saw commercial, matchday and TV revenues all rise.

It is now predicting 2017 revenues of up to £540m, even though it is not in the Champions League this season.

Under new boss Jose Mourinho they are currently third in the Premier League.

The club’s accounts up until 30 June 2016 confirm that the Premier League club was the first British team to break the half-billion mark, but the figure is short of Barcelona’s €679m (£570m) revenue revealed in July.

The Premier League giants also revealed operating profits of £68.9m, and adjusted core earnings of £191.9m, both also records.

“Our record fiscal 2016 financial performance reflects the continued underlying strength of the business and the club is on target to achieve record revenues in 2017, even without a contribution from the Champions League,” said executive vice-chairman Ed Woodward.

“This strong financial performance has enabled us to invest in our squad, team management and facilities to position us to challenge for, and win, trophies in the coming years.”

Net debt increased by £5.7m on the previous year, to £260.9m, which the club said was primarily due to the impact of foreign exchange rate movements on its US-denominated debt.