By Daniel Hunter
Manchester United are paying the price of last season's seventh-placed finish the Premier League with a 17% fall in revenues.
The club's total revenue fell from £115.5 million in the first three months of 2014, to £95m in the first of 2015. Looking at the first nine months of the club's financial year, revenues are down 14.1% to £289.4m.
The club posted a pre-tax loss of £11.4m for its third quarter, compared with a £20.4m in the same period last year.
Failure to secure Champions League football for this season resulted in broadcast revenue falling 39% compared with the first three months of 2014 and down 34.3% over the nine months at £66.9m. Matchday revenue was down 31% in the three month period, and 20.6% over nine months.
But there was better news for chief executive Ed Woodward and his commercial efforts. Man United's commercial revenues were up 11.7% to £47.8m during the quarter, and up 4.1% over nine months to £151m.
It comes as the club announced three more deals during the quarter. Kama Games is United's official global social games partner, Swissquote signed as global Forex & Online Financial Trading Partner and Emtel as 'triple play partner' in Mauritius.
Despite falls in the first nine months of the season, United expects to report revenues of £395m by the end of the 2014/15 season, up from £385m last season.
Manchester United's debt grew from £351.7m to £395.4m over the year as well. But the club said the increase was largely as a result of currency movements between the US dollar and British sterling.
Ed Woodward said: "As the season approaches its conclusion, we are pleased with the team’s performance in Louis van Gaal’s first season as manager and are well positioned to achieve a top four finish in the Premier League and to return to European football next year. As we look forward to next season, on the playing side we expect to be challenging for trophies in all competitions and on the commercial side we are excited by the numerous opportunities for further growth, including the first year of our ten year partnership with adidas."
