Record profits, big losses for United

08 October 2010 11:24
Manchester United have become the first English club to break through the £100million profit barrier - while also posting an £83.6million loss.[LNB] The widely contrasting figures once again emphasise how the Red Devils remain one of the world's most attractive sporting organisations, while at the same time showing the cost of a hugely controversial takeover by the Glazer family in 2005.[LNB]Interest payments accounted for £40million, while there was also a hefty one-off cost for the successful £504million bond issue earlier this year.[LNB]United will point to the massive commercial growth in the latest figures, following the implementation of their "territory specific" approach.[LNB]The £11.5million increase in turnover to £81.4million proves how successful that plan has been.[LNB]It also debunks the idea that the negative headlines the Glazer family ownership has caused have deterred companies from associating themselves with United.[LNB]Media revenues have also risen by £5.1million, to £104.8million, making it the largest area for the club now matchday revenues have fallen to £100.1million.[LNB]United's overall turnover is £286.41million, which contrasts sharply with Manchester City, who seven days ago celebrated hitting a turnover figure of £125million.[LNB]It shows the vast gulf that still exists commercially between the neighbouring clubs and the work City must do to get somewhere close.[LNB]

Source: Team_Talk