Premier League side Manchester United count cost of no Champions League as revenue falls
Premier League side Manchester United have announced revenue falls of 12.2% to £194.4m for the six months to the end of December.
The club has felt the cost of not qualifying for the Champions League last season after losing out competition money, television rights and match day sales. Current kit manufacturers Nike also paid less this season as part of their deal with the club.
The club said the decline was offset by a 23% increase in sponsorship revenues to £35.8m.
Club boss Ed Woodward said: "Notwithstanding no European football this season, our revenues... remain strong.
"On the pitch, the team is well positioned to challenge for a top-four finish in the Premier League and we look forward to the rest of the season."
United's first season after the retirement of Sir Alex Ferguson saw his replacement David Moyes sacked last April after the club finished seventh in the league.
His replacement Louis Van Gaal has managed to keep United in and around the Champions League places this season, with the club currently third in the Premier League.
And regardless of whether they get Champions League football next season, like all other Premier League sides, they will benefit greatly from the new £5.1bn television rights deal agreed with Sky and BT Sports.