Man Utd Announce Record Revenue for 2017/18 as Ed Woodward Confirms Commitment to Key Club Values

Manchester United have announced record revenue for the 2017/18 season - the 12 months ending 30th June 2018 - of £590m as the club continues to rake in money

Manchester United have announced record revenue for the 2017/18 season - the 12 months ending 30th June 2018 - of £590m as the club continues to rake in money despite a fall in on-field achievements in recent years.

It is an increase on the £581.2m the club earned in 2016/17, with notable increases in commercial and broadcasting revenue and a minor fall in matchday revenue.

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As part of the commercial gain, United sealed seven new sponsorship deals, including a first ever sleeve sponsorship with US brand Kohler. That number includes five global partnerships, one regional partnership and one financial services partnership.

Net debt has risen to £253.7m but the club record a pre-tax profit of £26m and was able to raise an £18.1m profit on disposal of intangible items. That included the sale of Adnan Januzaj to Real Sociedad in July 2017 and income from a Michael Keane sell-on clause.

Expenditure has climbed at a faster rate than revenue, with a 10% rise on the previous year to £564m, of which £295.6m of employee expenses went primarily on a growing player wage bill.

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United predict that revenue for the 2018/19 season will hit between £615m and £630m.

"Everyone at the club is working tirelessly to add to Manchester United's 66 and Jose's 25 trophies. That is what our passionate fans and our history demands," Ed Woodward said.

"We are committed to our philosophy of blending top academy graduates with world class players and are proud that, once again, last season we had more academy graduate minutes on the pitch than any other Premier League club.

"Our increased revenue expectation for the year demonstrates our continued strong long-term financial performance which underpins everything we do and allows us to compete for top talent in an increasingly competitive transfer market."