Football team Manchester United’s fortunes are going through a rough phase as its revenues fell in the first quarter since the Premier League team played fewer games at home. Sales during the quarter that ended in September were at £ 135 million when compared to £ 143.7 million last year. But even with this shortfall the English champions managed to retain their yearly financial forecast. Manchester team’s squad this year consists of French World Cup champion Paul Pogba and Spanish goalkeeper David De Gea making it one of Europe’s most valuable clubs. They are just around 12 points behind cross town rivals Manchester City.
In the last three months that market start of the season the club stated that it played lesser games than last year leading to lesser sales of tickets and merchandise. As there was some scheduling problem between first and second quarters the home games could not be conducted leading to dip in sponsorships as the summer tour was smaller than usual. But its broadcasting turnover jumped by 5 percent to £ 43 million that has raised expectations of the club which now is anticipating year end revenues to be between £ 615 to £ 630 million and expecting earnings before interest to be in the range of £ 175 to £ 190 million.
Club’s executive vice chairman Ed Woodward said that the club’s financial strength enables it to attract and retain top players every season while investing in their academy to drive pitch success that is expected by its fans. The club has once again managed to top KPMG’s list as being worth around £ 2.9 billion, placing it ahead of Ream Madrid and Barcelona. The study was based on profitability, popularity, broadcasting rights and other benchmarks in comparison with other teams. KPMG’s global head of sports and author of the report Andrea Sartori said that the overall value of football industry had grown over the past couple of years.