By Jonathan Davies

Manchester United Football Club has reported a huge drop in profits for the year despite record revenues.

The club reported profits of £23.8m for the year to 30 June, down a massive 84% from £146m last year.

It comes a month after Man United announced a record kit sponsorship deal with Adidas worth £750m, after it parted company with Nike.

The fall in profits comes despite reporting record revenues of £433.2m, up 19% from £363.2m in the previous year.

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