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Sports

Manchester United quarterly revenue rises on broadcasting boost

LONDON: Manchester United said its total revenue rose 2.6 per cent in the last three months of 2020, helped by strength in broadcasting.

“The rapid rollout of vaccines in the UK and beyond gives us confidence that we are now on a path towards normality, including the return of fans to stadia” Executive Vice Chairman Ed Woodward said on Thursday.

Broadcasting revenue, the English Premier League soccer club’s largest segment, rose 68% to 108.7 million pounds. The jump was helped by United’s participation in the European Champions League.

United, 20 times English champions, are currently second in the Premier League, but lag 14 points behind local rivals Manchester City.

The club said revenue for the three months ended Dec. 31 was 172.8 million pounds ($239.97 million) and profit was 63.9 million pounds.

Source: Reuters

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