Manchester United, the world's richest soccer club, reported a 42 percent rise in profits today after gate receipts and sponsorship income rose sharply.
United, poised to win third Premier League title in a row, reported a pre-tax profit of £17.3 million sterling for the six months to January 31st on a 13 percent rise in turnover to 72 million pounds.
The pre-tax profit figure topped the profit for all of last year when the group's input costs - to pay for some of soccer's best-known players - weighed on its bottom line. Total player charges were £3.4 million compared with £6.1 million in the first half last year.
Gate receipts jumped by a third to £28.4 million - helped by an extra home game and an expanded capacity of 67,700 at Old Trafford, compared with 55,300 last year. All 17 matches were sold out, United said.
Sponsorship income also rose to £11.1 million from £8.8 million. Last Feburary, the club signed a £30 million shirt sponsorship deal with mobile phone group Vodafone. United also landed a £303 million sponsorship and merchandising deal with Nike in November.
Operating profit before accounting for players, disposals and exceptional costs rose 15 percent to £21.4 million.
United now aims to strike more licensing deals and make use of local operators to sell its merchandise, as it has done with in its alliance with US baseball champions the New York Yankees.
Reuters