LONDON: Manchester United have announced a pre-tax loss of £11.4m as part of their third quarter results ending March 31.

This was largely due to a drop in matchday and broadcast revenue after the team’s failure to qualify for the Champions League this season.

The club’s matchday revenue for the period was £25.5m, down £11.6m from the previous year, with broadcast revenue at £21.7m, down 39% mainly because of five fewer Premier League games broadcast and no Champions League participation.

On a brighter note, United enjoyed an 11.7% increase in commercial revenue from 2014 to £47.8m, as the club agreed three new sponsorship deals in the quarter with Kama Games, SWissquote and Emtel.

Despite the loss in this quarter, the club are optimistic about the future with the new Premier League TV deal set to provide a huge financial boost.

United have also all but secured a return to the UEFA Champions League for next season, which will also benefit them hugely next season.

Ed Woodward, executive vice-chairman said: “As we look forward to next season, on the playing side we expect to be challenging for trophies in all competitions and on the commercial side we are excited by the numerous opportunities for further growth, including the first year of our ten year partnership with Adidas.”

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