Manchester United has announced a significant surge in net income for the second quarter, attributing the remarkable increase to the lucrative broadcasting revenue from the UEFA Champions League.
The Premier League giant revealed a net income of £20.4 million for the three-month period ending December 31, marking a substantial rise from £6.3 million reported in the corresponding period of the previous year.
The club expressed optimism about its future trajectory, particularly in light of the recent completion of Sir Jim Ratcliffe’s investment. As the new co-owner, Ratcliffe is poised to play a pivotal role in guiding the club towards success both on and off the pitch. Manchester United’s finance chief, Cliff Baty, emphasized the club’s commitment to collaboration with its new co-owners to drive progress and attainment of objectives.
Ratcliffe’s acquisition of a 25 percent stake in the club in December signified a significant milestone, with plans to oversee soccer operations and instigate a rejuvenation of the team’s performance.
Despite their current sixth position in the Premier League table, Manchester United remains steadfast in its pursuit of excellence. In January, the club revised its annual profit and revenue forecast, maintaining a positive outlook despite its exit from the Champions League.
Revenue for the quarter witnessed a notable surge of 35 percent, reaching nearly £226 million. This robust financial performance underscores the club’s resilience and potential for sustained growth in the forthcoming quarters.
