Manchester United has recorded an impressive revenue growth despite enduring a devastating 2013/2014 season which saw the club finish seventh, thereby failing to qualify for European football for the first time since 1990.
While speaking at the launch of Manchester United Annual Financial Figures, Ed Woodward, the club’s Executive Vice-Chairman, announced revenue of £420m for last season with a £25m profit which was boosted by sales of two million replica shirts across the world.
The revenue figures, which include a £5.2m pay-off to David Moyes, former United manager and his coaching team, however, did not reflect any financial losses incurred from failing to qualify for Europe for this season.
While stating that he remains proud of the results achieved by the club in the 2014 fiscal year, Woodward believes that, with the appointment of a new manager and the recent signing of star players, a new chapter would be opened in the club’s history.
“We are very proud of the results achieved in fiscal year 2014 as we once again generated record revenues. With Louis van Gaal at the helm as manager, and the recent signing of some of the world’s leading players to further strengthen our squad, we are very excited about the future and believe it’s the start of a new chapter in the club’s history,” Woodward said.