LONDON: The uncertain relationship between wealth and success in club football has been underlned by Manchester United having reclaiming top spot in the latest version of the ‘rich table.’
United have announced revenue of £515.3m ($683.52m) for year ending June 30 and have thus become the first English club to reach more than half a billion pounds in revenue.
Executive vice-chairman Ed Woodward welcomed the news, despite the club having missed out on Champions League football for past two years.
He said: “Our fiscal record for 2016 reflects the continued underlying strength of the business and the club is on target to achieve record revenues in 2017, even without a contribution from the Champions League.
“This strong financial performance has enabled us to invest in our squad, team management and facilities to position us to challenge for, and win, trophies in the coming years.”
United realised a profit of £36m ($47.75m) while their debt has risen slight, up 2% to £261m ($346.20).
The club recorded sponsorship revenue of £160.1m ($212.37m), an increase of £5.2m(6.90m) compared with the previous year.