Manchester United PLC have today released a press statement summarising the financial year and all in all, it has been a good year for United in many respects. Last year, United recorded a loss due to a one-off repayment on the burdening interest due to the Glazers but this year, revenue has reached record highs at £331.4 million, up £45 million from the previous year. The biggest rise came in the commercial turnover of the club which saw a 27% rise to £103.4 million and recently struck deals with DHL and Beeline in Vietnam are not included in the figures, so it represents a substantial increase in the commercial power of the United brand. Overall operating profits saw a £9.7 million increase and all in all, the net debt of the club has been reduced to £308.3 million when combined with the £150.6 million cash balance that the club holds.
The burden of the Glazers debt has no doubt once again placed a strange-hold on the capability of United to compete in this summers transfer market but I think we can all safely say that the business we did make has come up trumps. The £50 million investment in Young, De Gea and Jones represents massive future prospects for the club and although we didn’t manage to land Sneijder, who has today said that he did expect to join United at one point, it was a positive summer of renewal for United. The debt is slowly decreasing and with a potential move into the Singapore stock exchange in order to raise more funds, United are moving towards being debt free at a steady pace.