Manchester United's Europa League Run Boosts Profit Forecasts Amid Premier League Disappointment
Source: news.source.channelnewsasia
Manchester United has raised its annual core profit forecast to pre-COVID levels, driven by a strong performance in the Europa League which increased ticket sales and broadcast revenue. Despite a disappointing Premier League season and missing out on European competitions next year, the club's financial outlook remains positive with core profit expected to rise significantly. CEO Omar Berrada acknowledged the Premier League struggles and emphasized the need for improvement next season, while stakeholder Jim Ratcliffe is taking steps to revive the club's fortunes.
Key Points
Manchester United's strong run in the Europa League increased ticket sales by over 50% to 44.5 million pounds.
The club raised its annual core profit forecast to between 180 million and 190 million pounds, a 21% to 28% increase.
Despite a poor Premier League performance, the club's financial outlook is positive due to the Europa League success.
CEO Omar Berrada acknowledged the disappointing Premier League season and expressed a clear expectation for improvement next season.
The absence from European competitions next season will impact future finances, causing fan disappointment.
Jim Ratcliffe, holding a 29% stake, is implementing measures to revive the club's fortunes, including job cuts and ticket price increases.
