Man Utd to become richest club again

LONDON • Manchester United will report to the New York Stock Exchange this week that they are once again the richest football club in the world.

The English outfit announced a record turnover for last season of £515.3 million (S$933.02 million) on Monday, and in their report to investors in New York on Friday they will say that they earned even more than Barcelona and Real Madrid, using the average Euro exchange rate throughout the year.

It is 12 years since United last topped the table as the biggest-earning club in the world, but in January they were tipped to do so by analyst Deloitte.

In their filing this week to the US Securities and Exchange Commission, the club will - as usual - calculate their comparative turnover using the year's average exchange rate, €1.3426 (S$2.05) to £1. That means revenue last season was equivalent to €691 million - higher than Barcelona's turnover of €679 million and Real's €620 million.

Since the fall of the pound after Brexit, however, United's turnover is €611.3 million at the present exchange rate.

United's executive vice-chairman Ed Woodward told the club's investors that Paul Pogba's signing for £89 million from Juventus last month was the biggest football transfer ever in terms of social media interest, more than that seen for Real's Gareth Bale and Barcelona's Neymar combined.

United also reclaimed the position as the biggest paymasters in the Premier League with a wage bill of £232.2 million, up nearly 15 per cent. Chelsea were the biggest for the previous season with a wage bill of £215 million.

THE TIMES, LONDON

A version of this article appeared in the print edition of The Straits Times on September 14, 2016, with the headline 'Man Utd to become richest club again'. Print Edition | Subscribe