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Friday, January 11, 2008

Manchester United: The Richest Football Club in Britain

Manchester United is now the richest football club in Britain defeating its closest rival Arsenal in terms of yearly turnover. Manchester United has experienced gross turnover of £245m in 2006-2007 financial year which is 21 percent up from the previous year. The club saw 93 percent increase in its profit of £59.6m last financial year. However, the club is still bearing a huge amount of debt for which they had to pay £42m just for interest.

However, the club owners Glazers brothers have plenty of reasons to fancy. The match day revenue of Manchester United has been increased by 30 percent last year and the club saw 35 percent increase in its media revenue. What is more, Manchester Untied’s world wide fan base has also been increased extensively. The club has 139 million “core” fans worldwide and 333 million “followers.”

Independent reported:

United revealed profits for 2006-07 of £59.6m (up 93 per cent) on turnover of £245m (up 21 per cent), restoring the club's position as Britain's richest. Arsenal had claimed that spot in September when announcing £51m profits on £200.8m turnover. "We knew full well that when we came out with our results that our revenues and profits would be in excess of theirs," David Gill, United's chief executive, said.

However, Manchester Untied is not the richest club in the world. Real Madrid still holds the place with gross turnover of £261m. Manchester United comes second in the list followed by Barcelona and Arsenal. Among the Italian Clubs, Juventus is placed first in the list followed by AC Milan and Inter Milan. Bayern Munich holds the highest place among the German clubs.

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