Manchester United have achieved a record annual revenue of up to £640 million in the current financial year, with the projection coming amid an ongoing takeover saga surrounding the club.
According to the Guardian, in the recently released third-quarter financial results for the period ending on March 31, 2023, United raised its revenue guidance for the current financial year to a record range of £630-£640m.
The record match attendance and match day revenues have played a significant role in driving the Red Devils’ projected revenue growth, contributing to the overall positive financial outlook for the club.
With ticket sales reaching 2.4 million for the 2022/23 season, the Premier League heavyweights have seen substantial earnings from match-day activities, outperforming the previous ticket sales record set in 2016/17.
It’s also worth noting that global membership struck a 360,000 milestone, proudly representing the biggest paid membership programme in world sport.
Speaking of Man United’s positive financial trend during this specific timeframe, the third-quarter revenue showed an 11% increase compared to the same period last year.
Erik ten Hag’s first season at Old Trafford offered the Red Devils fans hope of a better tomorrow following a decade-long suffering in the wake of Sir Alex Ferguson’s retirement.
Coupled with decent on-field results, last summer’s arrivals of Casemiro, Christian Eriksen, Antony and Lisandro Martinez helped boost the club’s overall image.
On that basis, it’s not strange the match attendance broke the roof at the tail-end of the 2022/23 campaign, especially considering the Red Devils’ bid to return to the Champions League went down to the wire.
But the lack of Champions League football last season had a negative impact on the broadcasting revenue, with Man United competing in the Europa League.
Lifting the Carabao Cup title and reaching the FA Cup final went a long way in compensating for that shortcoming.
While waiting for the Glazers to sanction a long-awaited club sale, it’s understood Ten Hag’s recruitment plans won’t suffer from the long-running takeover drama.
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