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Tuesday, 28 January 2020

Manchester United expects earnings fall after missing out on Champions League

Reuters , Tuesday 24 Sep 2019
Manchester United
Manchester United's striker Mason Greenwood (C) celebrates with teammates after scoring the opening goal of the UEFA Europa League Group L football match between Manchester United and Astana at Old Trafford in Manchester, north west England, on September 19, 2019. (AFP)
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English soccer club Manchester United on Tuesday forecast falls in 2019-20 revenue and core profit after missing out on a berth in the lucrative UEFA Champions League following a string of inconsistent performances.

The 20-time English champions, who failed to qualify for the Champions League last season, forecast revenue of 560-580 million pounds, down from 627.1 million ($780 million) reported for 2018-19.

It expects adjusted core profit of 155-165 million pounds, down from 185.8 million last year.

The club, which will not be able to fully capitalise on UEFA's broadcasting revenue distribution system due to missing out on the Champions League, is already off the pace in the new Premier League season.

The team sits eighth after a stuttering start to the campaign.

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