by Isi Esene
Manchester United Football Club of England has announced a £4.7m just one month after the club listed on the New York Stock Exchange (NYSE).
Revenue fell by 3.3 per cent over a one year period to £320million, although the club predicts income of between £350m and £360m next year, if the team reaches the quarter finals of the UEFA Champions League.
Monitored reports indicate that matchday revenue fell 10.9 per cent to £98.7m as a result of playing four fewer home games than in the previous season, and broadcasting income dropped 11.3 per cent to £104m after the club was knocked-out at the group stages of the Champions League.
The club expects to receive a share of the total £1bn Premier League television broadcast rights from next year to 2015/2016 season. These income will be from BSkyB and BTVision.
Its new jersey sponsorship deal this year with General Motors which will generate income of $559m over the next 7 years part of which $37m will be received this year as “pre-sponsorship support”.
The English footballing franchise which was owing £436.9m in June floated its stock on the NYSE in August and was able to pay back £68m to marginally reduce its debt.
The club’s shares which was floated at $14 have fallen as low as $12.18.