Football: Man United announce record $730.4 million turnover
LONDON (AFP) - English football giants Manchester United announced record financial results on Wednesday after a year of rapid commercial expansion.
Having added a glut of new sponsors to their portfolio over the past 12 months, the 20-time English champions saw revenues rise 29.7 per cent to £152.5 million for the year ending June 30, 2013.
The leap in revenues helped the club from the English northwest register a 13.4 per cent increase in turnover to a club-record figure of £363.2 million (S$730.4 million), while debt fell 10.9 per cent to £389.2 million.
United floated on the New York stock exchange last year, in a bid to tackle the huge debt loaded onto the club by American businessman Malcolm Glazer's takeover in 2005.