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In the three months that ended September 30, Manchester United made a net profit of$ 180 million.
Photo by Zohaib Alam- MUFC/Manchester United via Getty Images
Manchester United, a premier league team, released its first quarter economic outcomes for the three months that ended on September 30 that showed profit of £143 million ($ 180 million based on current exchange rates ), a 9.9 % decrease from the same period last year.
The club eked out a net profit of$ 1.7 million, versus a loss of$ 32.5 million during the same period in 2023. Manchester United made a gain in a quarter for the first time since 2019 when the next quarter ends on December 31.
After paying leasing fees and including a$ 23 million tax breaks on$ 867 million in revenue, Man United lost$ 148 million for the fiscal year that ended on June 30.
The membership attributed the club’s$ 107 million professional revenue to changes to sponsorship agreements and three preseason tour matches, which were lower than the club’s$ 203 million. Matchday revenue dipped 3.3 % to$ 33 million. The least successful sector was broadcasting. Due to the team’s participation in the UEFA Europa League and the UEFA Champions League last year, revenues of$ 39 million decreased by 20 %.
For the quarter, commercial revenue represented 60 % of total revenue, while broadcasting was 22 % and matchday 18.5 %.
The 20-time English champion reiterated its prior full-year guidance of revenue between$ 820 million and$ 845 million with adjusted EBITDA of$ 183 million to$ 202 million.
CEO Omar Berrada stated that Manchester United’s cost and job reductions of about 250 jobs are still on track and that they “remain committed to returning to the top of local and European football.”
It has been a tough stop to the 2024-25 Premier League season for Guy United, as it sits in 12th in the ranks after 12 matches and fired director Erik ten Hag next month, naming Ruben Amorim as his successor. Last year, the group finished in ninth place in the ranks, its worst displaying since the EPL launched in 1992.
In May, United ranked atop Sportico’s yearly look at the world’s most valuable sports teams at$ 6.2 billion.
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