By Jonathan Davies
Manchester United has reported a 9.9% drop in revenues after failing to qualify for the Champions League.
United said revenues were £88.7m in the three months to the end of September. It lost out on payments from kit manufacturer Nike over lack of Champions League football after the club's 7th placed finish last season.
Ed Woodward, the club's chief executive, said financial results for this season would be hit due to the club's failure to qualify.
He said the club "signed the largest kit sponsorship deal in the history of sport in the first quarter and, with that concluded, we are excited to focus our efforts on the meaningful growth opportunities in sponsorship, digital media and retail and merchandising".
Revenues from broadcasting and matchday sales also fell as a result of not playing in the Champions League.
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