Manchester United announce £433.2m record revenue

Manchester United on Wednesday announced a 19 percent rise in annual revenue to a record £433.2 million ($698.8 million, 539.6 million euros), despite their on-pitch travails last season.

United floundered in their first season after the retirement of long-serving manager Sir Alex Ferguson, finishing seventh in the Premier League and sacking his successor, David Moyes, but they continued to thrive commercially.

The club reported a 49 percent increase in sponsorship revenue — helped by a blockbuster £750 million 10-year deal with Adidas — and recorded a profit of £23.9 million.

“We are very proud of the results achieved in fiscal year 2014 as we once again generated record revenues,” said executive vice-chairman Ed Woodward in a statement.

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