Premier League side Manchester United announce losses for third quarter
Premier League club Manchester United have announced a pre-tax loss of £11.4 million as part of their third quarter results ending 31 March 2015.
United finished seventh last season and in doing so failed to qualify for the Champions League for the first time in nearly 20 years.
Subsequently, the club’s matchday revenue for the period was £25.5m, down £11.6m from the previous year, with broadcast revenue at £21.7m, down 39% mainly because of five fewer Premier League games broadcast and no Champions League participation.
Despite the loss in this quarter, the club are optimistic about the future with the new Premier League TV deal set to provide a huge financial boost.
Manchester United have also all but secured a return to the UEFA Champions League for next season, which will also benefit them hugely next season.
Ed Woodward, Executive Vice Chairman said: “As we look forward to next season, on the playing side we expect to be challenging for trophies in all competitions and on the commercial side we are excited by the numerous opportunities for further growth, including the first year of our ten year partnership with Adidas.”