Manchester United announce record revenue

Manchester United released their annual figures, which state a record revenue of £581 million. After announcing the club's debt had risen to £366 million in May, the results come as a major plus for United.

Profit stood at £39.2 million with the debt, linked to the American Glazer family's 2005 takeover, dropped from £260.9 million to £213.1 million, after a successful season in which they won the Europa League and the League Cup and qualified for the Champions League.

Manchester United executive vice-president Ed Woodward told investors: 'We concluded a successful 2016/17 season with a total of three trophies and a return to Champions League football'.

'The year saw us set record revenues of over £581million and achieve a record EBITDA [Earnings before interest, tax, depreciation and amortization] of £199.8million'.

'We are pleased with the investment in our squad and look forward to an exciting season'.

The report also projects that Manchester United's revenue for 2018 will be somewhere between £575 million and £585 million.