Manchester United announce record profits

Manchester United announced record revenue on Thursday after a successful season in which they won the Europa League and the League Cup and qualified for the Champions League.

The Old Trafford club earned revenues of £581.2 million ($783 million, 659 million euros) in the 12 months to the end of June and made an operating profit of £80.8 million.

Debt, linked to the purchase of the club by the Glazer family, dropped to £213.1 million from £260.9 million a year previously.

The Premier League joint leaders, managed by Jose Mourinho, expect simliar revenues during the current financial year.

Earlier this year, financial analysts Deloitte revealed United had returned to the top of football’s rich list for the first time since 2005, supplanting Real Madrid thanks to revenues of £515 million.

“We concluded a successful 2016/17 season with a total of three trophies (including the Community Shield) and a return to Champions League football,” said executive vice chairman Ed Woodward.

“We are pleased with the investment in our squad and look forward to an exciting season.”

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