English soccer club Manchester United
MANU.N
said it was likely to maintain revenue around last year's record level in 2017-18 as it returns to the lucrative European Champions League.
United, whose top players include Paul Pogba and Romelu Lukaku, are currently joint top of the English Premier League and have qualified for the Champions League after winning the second-tier Europa League last season.
"We are pleased with the investment in our squad and look forward to an exciting season" Executive Vice Chairman Ed Woodward said in a statement.
Controlled by the American Glazer family and with its shares traded in New York, United forecast revenue of between 575 million pounds and 585 million pounds in 2017-18.
That would be broadly in line with record revenue of 581 million pounds ($782.8 million) in the year to June 30.
United reported core profit of 199.8 million pounds in the year. That figure was likely to slip to between 175-185 million pounds in the current year.
The lower forecast was in part down to bonus payments to players linked to making it back into the Champions League.
United spent close to $200 million on player signings over the summer as manager Jose Mourinho builds a squad capable of challenging for the Premier League title, last won by United in 2013.
As well as the Europa League, United also won the English League Cup last season. ($1 = 0.7422 pounds)
(Reporting by Rahul B in Bengaluru; Editing by Keith Weir) ((Rahul.B@thomsonreuters.com; UK: +44 20 7542 1810; Outside UK: +91 80 6749 6338; Reuters Messaging: rahul.b.thomsonreuters.com@reuters.net))
United, whose top players include Paul Pogba and Romelu Lukaku, are currently joint top of the English Premier League and have qualified for the Champions League after winning the second-tier Europa League last season.
"We are pleased with the investment in our squad and look forward to an exciting season" Executive Vice Chairman Ed Woodward said in a statement.
Controlled by the American Glazer family and with its shares traded in New York, United forecast revenue of between 575 million pounds and 585 million pounds in 2017-18.
That would be broadly in line with record revenue of 581 million pounds ($782.8 million) in the year to June 30.
United reported core profit of 199.8 million pounds in the year. That figure was likely to slip to between 175-185 million pounds in the current year.
The lower forecast was in part down to bonus payments to players linked to making it back into the Champions League.
United spent close to $200 million on player signings over the summer as manager Jose Mourinho builds a squad capable of challenging for the Premier League title, last won by United in 2013.
As well as the Europa League, United also won the English League Cup last season. ($1 = 0.7422 pounds)
(Reporting by Rahul B in Bengaluru; Editing by Keith Weir) ((Rahul.B@thomsonreuters.com; UK: +44 20 7542 1810; Outside UK: +91 80 6749 6338; Reuters Messaging: rahul.b.thomsonreuters.com@reuters.net))
