Manchester United are on track to become the first British club to earn more than half a billion pounds in a year.
The Red Devils have announced a quarterly profit of £18.6 million and a total revenue of £133.8 million, which is 26.6 percent higher in comparison to the same period in 2015.
United’s commercial revenue for the second quarter stood at £66.1 million, a 42.5 percent rise from last year. The club’s broadcasting revenues rocketed up 31.3 percent, while sponsorship revenue climbed from £1.6 million to £37.4 million.
As a result of the surge in profits, the club expects their revenue for 2016 to sit at £510 million even though the Red Devils have already been knocked out of the Champions League.
“Our strong commitment to investing in our squad, youth academy and the broader club are ultimately underpinned by our financial strength and the hard work and dedication of everyone at the Club,” United vice-chairman Ed Woodward told reporters. “Our solid results off the pitch help contribute to what remains our number one priority – success on the pitch.”