United’s profits dip by nearly 50%

Manchester United, the world’s wealthiest football club, achieved record annual revenues last season, but earnings and profits fell because of mixed results on the pitch. The team finished the 201718 Premier League season second in a vast improvement from sixth place the previous year, helping the club gain a 10-million pound boost in broadcast income.

But its financial performance was also hit by the team’s struggles in the Champions League, where they were knocked out in the round of 16. Revenues increased 1.5 percent from the previous season to 590-million pounds, but profit fell almost 50 percent to 44.1-million pounds.