By 90Min
September 24, 2019

Manchester United chief executive Ed Woodward has announced that the club have posted record revenues for 2019. 

It was revealed the club had earned a whopping £627.1m revenue for the year, thanks primarily to ten new or renewed global partnerships, the new Premier League broadcasting cycle - as well as an increase in sponsorship and retail, merchandising, apparel & product revenue.

As reported by the Manchester Evening News, these figures were revealed during Woodward's annual conference call with investors examining the fiscal year.

It was also announced that the net total of debt (£253.7m) was the lowest since 2005, while, as totalled by Kantar, their global fanbase and following (whatever that means these days) had risen to 1.1bn.

After revealing those detail, the CEO declared on the call: “We remain focused on our plan of rebuilding the team and continuing to strengthen our youth system, in line with the philosophy of the club and the manager.

"This is reflected in the recent addition of three exciting first-team players, key player contract extensions and the talent we have coming through our Academy. Everyone at Manchester United is committed to delivering on our primary objective of winning trophies.”

However, not everyone around the club is as pleased with these declarations of financial prosperity, with many members of the Red Devils' fanbase disparaging the club for their lack of work in the transfer market during this record-breaking year, especially in light of the team's struggles so far this season. 

With the additions of Harry Maguire, Aaron Wan-Bissaka and Daniel James, alongside the departure of Romelu Lukaku to Inter, Unitedhad a net spend of around £75m this summer, a total which is just under 12% of that record revenue stream.

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