Manchester United reveal record turnover figures

Manchester United posted a record third-quarter turnover of £91.7million ($142.6 million) according to figures released to the New York Stock Exchange on Thursday. The English Premier League champions also said sponsorship had increased by more than 52 % and added they expected an overall annual income of £360 million. "Each of our three primary sectors - commercial, broadcasting and matchday - delivered strong top-line gains and helped us achieve a record third quarter for both revenue and adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization)," said United vice-chairman Ed Woodward. United have one of the most extensive commercial operations in English football and this was reflected in a 31.9% rise in commercial income on the corresponding three months last year meant overall commercial income has gone up by 27.9% to £114.5 million over the full nine-month period. Gross debt stands at £367.6million, which while still a huge amount by most standards, nevertheless represents a decrease of 15.9 % since June 30 last year. However, total operating expenses for the third quarter increased 18.6% year-on-year to £79 million. Wages also rose 25.1% to £44.9 million due to the impact of new signings -- including Robin van Persie and Shinji Kagawa - renegotiated contracts and the growth of United's commercial team.