Manchester United News

All the latest news from the Champions

United Announce Record Profits

Posted by Keano! on June 4, 2009

Manchester United today announced that the club had made record operating profits over the 2008/2009 season and now see themselves sitting on top of the global money tree as it were. The Premier League champions made £71.8m, although still see La Liga giants, Real Madrid ahead of them in terms of revenue generated which at the end of the day is much bigger.

Theses facts and figures were compiled by Deloitte’s Annual Review of Football Finance who will have pleased United’s American owners, (The Glazers) that the £500M debt they landed on the football club when buying it will be paid off. United confirmed an £80M shirt sponsorship deal with American group, AON Corp. yesterday which will see the replace current sponsors AIG in 2010.

Speaking on the Glazers, chief executive David Gill was happy with their input,

"What happened after the takeover is that a lot of the uncertainties, with certain holders having 25 or 30 per cent stakes, and it was all very public because we were quoted on the stock exchange, all of that has been taken away now," he said. "We’ve got the stability of the family owning the club. Long-term decisions can be taken and that’s been proved with the results we’ve achieved over the last two or three years.

"In 2005 we had some issues. We’d been knocked out of the Champions League at the group stage, Vodafone announced they wouldn’t be continuing the relationship and Roy Keane left under a cloud. But no one panicked or made rash decisions. We were in it for the long-term and so that situation has followed through the last few years and hopefully many years to come."

When Malcolm Glazer approached United at first he was driven out by the fans and despite the fans showing now mercy, even spray painting L.U.H.G. on Gill’s house (Love United Hate Glazer) Glazer gained control of the club. However, the massive debts and prices aside, some of the stories reported when he took over at first have proven silly media topics with suggestions that Alex Ferguson would be let go, top players would be sold off and Old Trafford would be renamed have all bared no fruit.

Manchester United do have the finances for transfers with Alex Ferguson rumoured to have around £40M at his disposal this Summer and possibly more if Carlos Tevez does leave. The club forked out just over £120M on wages last season and it is a figure that may well rise in the upcoming season, along with ticket prices unfortunately.

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