Tuesday, 13 September 2016

MANCHESTER UNITEAD Breaks English Club Records and Pay Off Louis Van Gal

Manchester United have become the first British club to make over half-a-billion pounds in a year - while also paying out £8.4million to sack Louis Van Gaal.

United's yearly results show that their total revenue for 2015-16 was a staggering £515.3million up from £395.2million the previous year.

Only Barcelona earn more and United forecast that they will generate income of between £530million and £540million in 2017.

Their operating profit more than doubled from £31.6million to a record of £68.9million.
Van Gaal's pay off and that for his staff barely made a dent in the figures, even though United handed them £8.4million compensation for the remaining year of their contracts.

United's executive vice-chairman Ed Woodward claims the club are in a very healthy state and will continue to grow, despite missing out on the Champions League this season.

Ed Woodward said "Our record fiscal 2016 financial performance 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 facilties to position us to challenge for and win, trophies in the coming years."

United results show they have also taken a £6.7million hit on Bastian Schweinsteiger after Jose Mourinho dumped him from his first-team squad.


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