Manchester United brings in record profit

English Manchester United will ring in the New Year with an announcement that the club has hit records in turnover and profit, closing in on Spanish Real Madrid for title of the world's richest club.

The club is expected to unveil GBP 75 million in profits and annual turnover of GBP 200 million for the year ending 30 June. Those marks break the 2003-2004 profit of GBP 58 million, and the 2002-2003 turnover of GBP 174 million.

It was nearly a GBP 33 million jump in turnover and GBP 29 million in profit from the previous fiscal year.

Real Madrid's profit this past year was GBP 208 million.

Manchester United can attribute its jump to on-pitch success with a Premier League title, and the expansion of Old Trafford, with 8,000 seats added to the venue to make it a 76,000 capacity. More than 2,500 were higher-value corporate seats.

The profits will help offset the GBP 35 million a year in debt the club accrues. There still will be a solid cash flow for any transfers.

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