Manchester United set for record annual revenue as fans mount Glazers protest

https://www.theguardian.com/football/2023/jun/27/manchester-united-record-annual-revenue-glazers-protest-old-trafford

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Manchester United have projected record annual revenue of up to £640m in the current financial year as the takeover saga surrounding the club rumbles on.

United’s owners, the Glazer family, are weighing up offers for the club from the Qatari banker Sheikh Jassim and Sir Jim Ratcliffe, the founder of chemicals firm Ineos. Reports have suggested Sheikh Jassim’s bid – which is for 100% of the club – is now the most likely to be accepted.

The Glazers first indicated they could sell last November but the bidding process has dragged on, and Tuesday saw a group of supporters block entry to the club’s Old Trafford megastore in protest against the American owners.

The protest was organised by fans’ group The 1958 and timed to coincide with the launch of the team’s new home kit. Announcing the protest on Monday evening, the group posted on Twitter: “Everyone has a part to play in this battle against Glazer. For you, for us, for each other.”

United’s revenue guidance for the current financial year was raised to a record £630m-£640m in the third-quarter financial results for the period ending 31 March 31 2023, which were released on Tuesday. This is driven by record match attendance and match day revenues with ticket sales of 2.4m for the 2022-23 season.

That surpassed the previous ticket sales record set in 2016-17, while global memberships also hit 360,000 – the largest paid membership programme in world sport, according to the club. Revenue for the third quarter was also up 11% on the same period last year.

Broadcasting revenue was slightly down on the corresponding period due to the club being in the Europa League rather than the Champions League, but was partially offset by the club’s performance in domestic cup competitions.

Summer recruitment will not be affected by the results, according to sources close to the club. There will be enough cash available to enable the manager, Erik ten Hag, to invest in the team while staying within financial sustainability rules.