A disappointing season on the pitch hasn’t affected the commercial allure of Manchester United.
The Premier League club announced a record second quarter revenue of 122.9 million pounds on Wednesday.
Revenues were at 110.1 million for the same period last year.
Among the highlights were a 39.4 percent increase in sponsorship income and a 19.6 percent increase in year-to-date adjusted net income. Commercial revenues sit at 42.3 million pounds, an 18.8 percent increase for the quarter and 30 percent for the year to date.
The club added six new sponsors during the quarter: Unilever, Hong Kong Jockey Club, Banif Bank, Fuji TV, SPOTV Korea, and STC.
Broadcast revenues increased 18.7 percent during the quarter thanks to new domestic and international Premier League TV rights deals taking hold.
Manchester United’s projected revenue for the year is between 420 and 430 million pounds. The club has never exceeded 400 million before.
“We once again achieved a record revenue quarter with strong contributions from our commercial and broadcasting businesses despite the current league position, which everyone from the team manager down has acknowledged is disappointing,” said club executive vice chairman Ed Woodward in a statement.
United currently sits in seventh in the Premier League.
“We continue to see meaningful opportunities to grow our commercial business and the popularity of football on TV is leading to continued broadcasting revenue growth – all of which bodes well for the long-term stability and financial strength of our business.”
Woodward also says the club now has 325 million fans in Asia, 108 million of whom are in China.
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By INSIDER’s Nick Devlin