Manchester United are in line to become the first British club to "exceed" half a billion pounds in revenue in a single year, even if participation in the lucrative Champions League next season still hangs in the balance, the club said Friday. United head into their final Premier League game at home to Bournemouth on Sunday, in fifth place and two points behind local rivals Manchester City.
Only the top four clubs in the English top flight are guaranteed a place in the Champions League and failure to do so will add to the pressure on United manager Louis van Gaal, whose future at Old Trafford is the subject of intense speculation. But none of that stopped United, who face Crystal Palace in the FA Cup final at Wembley later this month, from announcing a record underlying pre-tax third quarter profits of £44.9 million ($64.7 million, 57.04 million euros) on Friday.
The Premier League side said in a statement that this represented an increase of 76.8 percent, while revenue for the same 2016 fiscal third quarter and nine months ended March 31 had risen to £123.4 million, up 29.9 percent. Commercial revenues rose 37.7 percent to £65.8 million, with total operating expenses up 3.2 percent to of £102.2 million compared to the same quarter last year.
In a subsequent conference call with investors, United head of corporate finance Hemen Tseayo said the club, one of world sport's biggest brands with a huge global fan base, expected revenues would "exceed" £500 million and possibly be as much as £510 million in 2016.