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United earn a record-breaking revenue of £581.2 million

22 September, 2017, 09:02 | Author: Nadine Todd
  • Record revenue as Manchester United broadcasting income increases by 40%

United, whose top players include Paul Pogba and summer signing Romelu Lukaku, are now joint top of the English Premier League.

Premier League clubs expect digital giants such as Amazon and Facebook to bid for streaming rights in next year's auction, Ed Woodward, the Manchester United executive vice-chairman, has revealed.

English soccer club Manchester United said recent signings put it in a strong position on the pitch as it backed itself to match last year's record revenue off the field.

The Premier League's current TV deal sees Sky Sports and BT Sport each taking a portion of the broadcast rights, while the latter also show exclusive Champions League football in the United Kingdom alongside other traditional national outlets across Europe.

Manchester United saw record revenue in the financial year ended 30 June, according to latest quarterly results for the New York-listed football business. United shares traded 3.7 percent higher at $17.85 in NY at 1500 GMT, valuing the club at around $2.8 billion.

"We concluded a successful 2016/17 season with a total of three trophies and a return to Champions League football". However, they had to settle for fifth place in the 20-team Premier League.

United's healthy financials were primarily driven by a 38.2 per cent uplift in broadcasting revenue to £194.1m, with last season marking the first played under a Premier League TV deal worth around £8bn. That figure was likely to slip to between 175-185 million pounds in the current year as higher costs are felt.

The lower figure was partly blamed on the prospect of bonus payments to players because of Champions League qualification.

It will be interesting to see if Amazon and Facebook do challenge Sky for the United Kingdom and European rights to the EPL. The social media company made a $610 million bid earlier this month for the Indian Premier League. "I think it's going to be increasingly important to digitally engage with fans, and we think we can be complementary to partners like this coming in".

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