Manchester United forecast record revenues as fans protest Glazers’ stalling on a sale
Manchester United chiefs expect to achieve record revenues of up to £640m this year after raising their guidance for investors.
United’s revenue for the three months to March 2023 increased 3.5 per cent on the same period last year to £481.1m.
It comes after the 20-time English champions enjoyed a return to form on the field and amid long-running takeover talks between their owners, the Glazer family, and two bidders, British billionaire Sir Jim Ratcliffe and Qatari Sheikh Jassim Bin Hamad Al Thani.
United said revenue guidance had been raised from the £590m-£610m mark to the region of £630m-£640m, while EBITDA guidance was up from £125m-£140m to £140m-£150m.
Those figures would see United eclipse Manchester City’s Premier League-leading revenue of £613m in 2021-22, although City’s income is also likely to have risen after they completed the Treble this term.
Commercial and matchday revenue were the drivers of United’s increased income for the three months to March 2023, due to new sponsorship deals and additional games incurred by their progress in three cup competitions.
They won the Carabao Cup, lost the FA Cup final to City and finished third in the Premier League, earning a return to the Champions League next season.
Wage costs were also down 16.5 per cent on the first three quarters of 2021-22 to £85m, which the club attributed in part to squad turnover. Cristiano Ronaldo left in December after United agreed to terminate his lucrative contract.
The Glazers, meanwhile, faced further protests today from supporters urging them to complete a sale and leave the club.
Dozens of fans blocked the entrance to the Manchester United Megastore at Old Trafford on the day that the new home kit was launched.
The US family announced it was considering a sale in November last year but has still not announced a decision on whether it will relinquish control to Ratcliffe, Sheikh Jassim – or not at all.