Manchester United reports record profits

Manchester United finally confirmed what had long been believed — the English club had a record financial year.

The 2006-2007 fiscal year saw the club report a turnover of GBP 245 million, a 27-percent rise. Manchester United vaults Arsenal and its GBP 200.8 million turnover, but leaves the club lagging a bit behind Spanish Real Madrid, which reported GBP 263 million.

Manchester United also had pre-tax profits rise to GBP 59.6 million, a 93-percent leap. Media revenues went up to GBP 61.5 million, a 35-percent jump.

The club said debt numbers will be unveiled in the spring. A point of contention among club fans is that the Glazer family borrowed heavily — GBP 790 million — to purchase the club. The interest payment from those loans totaled GBP 62 million this previous May.

Next year's financial figures may jump higher. The club will have numbers from an improved media contracts.

Total player agent payments were GBP 2.1 million. It was GBP 1.8 million the prior year.

Chief executive David Gill said the financial numbers were strong enough to survive any downturns.

The club revealed research numbers that lead it to claim Manchester United has 333 million worldwide followers, with 139 million calling themselves die-hard fans. A jump of 20 million hard core fans in South Africa has led the club to schedule a summer tour there.

Source: euFootball.BIZ © Copyright 2006 - All rights reserved.