Man United report drop in revenue

Manchester United have reported a drop in revenue by 14 per cent for the second quarter of their financial year due to their absence from the Champions League.

United's revenues for the 
three months ending Dec 31 were 
£105.7 million ($219m) compared to £122.9m a year ago - but not as great a drop as some analysts had predicted due to a reduction in the club's costs and a rise in commercial income.

United's executive vice-chairman Ed Woodward said the club, currently third in the Premier League table, were well-placed to return to the Champions League next season.

The biggest impact on the finances has been the lack of broadcast income from European football, down 46.9 per cent to £28.4m.

The wage bill has dropped £2.9m over the three months - mainly due to a reduction in the size of the squad compared to last season.

- PA Sport.