Man Utd sees whopping 13.4 percent rise in revenues
Premier League champions Manchester United has reportedly seen a rise in its revenues with a whopping 13.4 percent rise to 36.2 million pounds in the year till June propelled by a dramatic upswing in commercial revenues.
Despite the departure of iconic manager Sir Alex Ferguson and the early exit of the club from last year's Champions League, the Old Trafford side saw its income rise by 30 percent in the past year with deals with sponsors like US carmaker Chevrolet and now earns 42 per cent of its income from such commercial deals.
According to The Independent, with the revenue growth, United has dwarfed the amount made through television and money generated on match day, with a recent Deloitte report placing the club in second spot in the list of world's biggest football clubs with a worth of 3.16 billion dollars, below Real Madrid's 3.3 billion dollars
The report mentioned that United's off-the-pitch activities are big enough to nearly equal the combined commercial revenues generated by the next two biggest British clubs, Arsenal and Chelsea, adding that new United chief executive Ed Woodward is credited with the huge expansion in commercial activity and negotiating bumper deals.
However, the report mentioned that success on the pitch is still vital to a business which is weighed down with the debts accrued during its takeover by the Glazer family. (ANI)