Published: Tue, November 19, 2019
Sport | By Kayla Schwartz

Manchester United Q1 results show drop in broadcast income, increase in sponsorship

Manchester United Q1 results show drop in broadcast income, increase in sponsorship

Ole Gunnar Solskjaer's side announced this week that their revenue for 2019-20 could drop nearly £70million to £560m, while Manchester City's revenue was boosted by the 10-year, £650 million kit supplier deal that they signed with Puma in February.

"Though this season-to-date we have had a mixed start to our Premier League campaign, in Europe, we have qualified for the Europa League knockout stages with two games to spare".

The club's wage bill has dropped by 8.8% "primarily due to reductions in player salaries as a result of non-participation in the UEFA Champions League", the statement said.

Total revenue for the July to September 2019 accounting quarter was essentially flat year-on-year at £135.4m ($175.4m/€158.4m).

Commercial revenue was £80.4 million, a 5.9% increase on the previous year, the club said in a financial statement. Broadcasting revenue for the quarter was £32.9m, a 23.1 per cent and £9.9m drop on the same quarter the year before.

In part that will be due to the club's lack of Champions League football this season.

Apple launches iOS 13.2.3 update
Since the launch, the feature-rich iOS 13 has been updated multiple times to fix a range of bugs . Let's break down what's new in the iOS 13.2.3 update. iOS 13.2 3 is a roughly 104 MB update.

Ed Woodward has laid out his vision for Manchester United, based on major signings and an academy focus, despite an increase in net debt.

Executive vice-chairman Woodward has made it clear he wants to bring in elite-level players for manager Ole Gunnar Solskjaer, although he says much of their focus remains on encouraging the development of youngsters in the academy.

"Over the last few years, we have significantly invested in our recruitment infrastructure to augment our already strong and experienced recruitment team, all of whom who are working to a clear philosophy".

"Our ultimate goal is to win trophies by playing exciting football with a team that fuses graduates from our academy with world-class acquisitions". However, we have made investments across the club that we believe have set us on the right path. "We are particularly optimistic regarding the considerable young talent now coming through".

Woodward also said he optimistic about the future of Premier League revenue growth, according to the Telegraph, and said television audiences for the league were up sharply this season.

Like this: