Manchester United revenues hit by Champions League absence

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Manchester United saw revenues fall by 拢38m in the year to June, mainly due to failure to qualify for the UEFA Champions League.

Total revenues were 拢395.2m, down from 拢433.2m, but sponsorship income hit record levels, up by 14.1% to 拢154.9m.

It came as the club had a second trophy-less season in 2014-15.

That caused matchday revenues for the year to fall by 16% to 拢90.6m, and broadcasting income to drop by a fifth to 拢107.7m, a decrease of 拢28.1m.

Being out of the Champions League cost the club around 拢35m in match and broadcasting revenues.

This was slightly offset by a 拢12m drop in staff costs.

Man Utd currently sit third in the Premier League and are in the group stages of the Champions League, but lost their opening game to PSV.

Last season was the final year of the club's kit deal with Nike, before they moved over to Adidas in July of this year to begin a 10-year, 拢750m partnership.

Revenue goal

The club is optimistic about the forthcoming year, saying they expect revenues to be between 拢500m and 拢510m.

"As we look to the new season, we are enthusiastic about our strong position, both on and off the pitch," said Ed Woodward, club executive vice-chairman, who added that the club was commercially confident of "continued growth".

"In recent weeks we have further strengthened our squad with an exciting mix of experience and youth, qualified for the group stage of the UEFA Champions League, and seen an impressive launch of our partnership with Adidas."

It said Premier League live broadcasting rights would increase around 70% to 拢5.14bn for the 2016/17 to 2018/19 seasons.

It also expects its finances to be boosted by a return to Champions League football.

Manchester United also announced it is trying to raise $400m by selling new shares.

The club, which is listed on the New York stock exchange, is controlled by the American Glazer family.