Club's off-field activity growng
Manchester United on course for £500m revenue
The club issued the guidance to investors after revealing third quarter results ended 31 March which showed £44.9m of adjusted ebitda, up 76.8%, and a 29.9% rise in revenue to £123.4m.
The forecasts are impressive given that the club’s on-field performances have been below par. The club is likely to miss out on the lucrative European Champions League next season. Off-field commercial activity is making up for poor results on the pitch.
Commercial operations accounted for £65.8m of group revenue, a 37.7% increase compared to the corresponding quarter of 2015.
United signed a kit deal with Adidas, which came into effect this season, and underpins off-field revenue growth. Retail, merchandising and apparel sales amount to £24.4m.
Five sponsorships were agreed in the quarter, including Gulf Oil and 20th Century Fox.
Revenue from broadcasting during the quarter increased by 28% or £6.1m to £27.8m, partly because of an extra televised Premier League game and two home Europa League fixtures.
Player wages were 12% higher at £56.2m.