Man Utd on course to become the world's most valuable club
Manchester United's revenues dropped by 8.8 per-cent to £395.2m last season as a result of not appearing in the Champions League, but their projected income suggests they may soon take over as the world's most valuable club.
United's disastrous 2013-14 season under the guidance of manager David Moyes ended with the club failing to secure a top four finish for the first time in 19 years and the financial implications can now be seen.
The drop in turnover from £433.3m to £395.2m came as a direct result of their absence from the Champions League, with underlying pre-tax profits down from £130.1m to £119.9m.
However, the start of the club's record breaking kit deal with Adidas and their appearance in the group stags of this season's Champions League inspired the club's executive vice-chairman Ed Woodward to predict a surge in profits in the next year.
Woodward's suggestion that United's turnover could leap above the £500m mark in the next year would potentially edge them ahead of Real Madrid and Barcelona as the most valuable football club in the world.
"As we look to the new season, we are enthusiastic about our strong position, both on and off the pitch," stated Woodward.
"In recent weeks we have further strengthened our squad with an exciting mix of experience and youth, qualified for the group stage of the UEFA Champions League, and seen an impressive launch of our partnership with adidas.
"Our record revenue and EBITDA guidance for 2016 reflects the underlying strength of our business and our confidence in its continued growth."
Turnover of more than £500m would put United at the top of the world game financially, but the club are still burdened by a gross debt that has risen by 20% to £411m.
Meanwhile, reports suggest that United is trying to raise another $400 million by selling new shares. The club has been listed on the New York Stock Exchange for the last three years.