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(WFI) Manchester United has named Cliff Baty to the newly-created position of chief financial officer.

Ed Woodward, United’s executive vice chairman said. “He is a proven finance executive who brings a wealth of international business experience, and will be an excellent addition to our senior management team.”

Baty, 45, has since 2013 served as chief financial officer of Sportech, the pool betting operator and technology supplier.

Prior to that role, he worked for several years at betting company Ladbrokes in a number of senior finance roles including finance director of its eGaming and international businesses, as well as Ladbrokes businesses in Spain, Italy, and South Africa.

Previously, he has also worked as group financial controller of Hilton Group. Baty qualified as a chartered accountant with Ernst & Young, where he worked for 10 years.

United were the only Premier League club to make Forbes’ list of the most valuable sports brands in the world, published last week – in sixth place sandwiched between Real Madrid above them and Barcelona below.

In the club’s latest financial results, released in September, commercial revenue increased 12 per cent to £47.8m but broadcast revenue and matchday revenues were down. The club’s debt rose 12 per cent to £395.4m due to United failing to qualify for the Champions League.

By INSIDER editor Mark Bisson

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