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News : European Last Updated: Jan 11th, 2008 - 09:25:40

Manchester United almost doubled profit in 2007; Premier League clubs’ revenues to increase significantly in 2007/08 to over £1.76bn
By Finfacts Team
Jan 11, 2008, 09:17

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Manchester United almost doubled profit as it regained its Premier League soccer title in 2007.

Revenue rose 21% and it was second only to Real Madrid in turnover.

Net income rose to £42.3 million pounds in the year ended June 30 from £21.6 million the previous year, the club said in a statement. Sales rose to a record £245 million pounds from £202 million.

``This is a remarkable record set of results,'' Chief Executive Officer David Gill said in the statement, adding that they position the club ``as a true leader in world sports.''

2007 was a bumper year for the finances of England’s leading football clubs, with record revenues in the Premier League, a record prize on offer to the Championship play off winners and a huge new television deal kicking off at the start of the 2007-08 season.  Last month, the Sports Business Group from the business advisory firm Deloitte highlights some of the key figures:

  • Premier League revenues are estimated to have been a record £1,465bn. For the 2006/07 season.  

  • Gross transfer spending by English clubs in the summer of 2007 exceeded £500m, around two thirds higher than the previous record of £300m spent in summer 2006.

  • The number of transfers for a fee exceeded 100 in summer 2007, a first for any transfer window. The average fee paid by Premier League clubs increased from £3.5m in summer 2006 to £4m.

  • The financial prize for promotion to the Premier League rose to around £60m in 2007, up from around £40m in 2006.

  • 2.9 billion people around the world watched Premier League matches last season and 1,684 hours of Premier League coverage was broadcast each week to an estimated 586m homes in 203 territories. (Source: Premier League)

  • The level of aggregate investment in stadia and youth development by England’s 92 league clubs and the Football Association since the formation of the Premier League exceeded £3 billion in 2007.

And looking ahead to 2008:

  • Premier League clubs’ revenues will increase significantly in 2007/08 to over £1.76bn with the onset of the new TV deal.

  • Premier League clubs operating profitability is estimated to exceed £200m for the first time in 2007/08.

  • At least 8 of the current 20 Premier League clubs have plans to invest further in their stadia.

  • Total spending on the wages of all employees at Premier League clubs will exceed £1 billion for the first time in 2007/08.

Alan Switzer, Director in the Sports Business Group, said:

“English football remains the financial powerhouse of Europe.  It accounted for 23% of the entire European football market in our last Annual Review of Football Finance and as the increased revenues from the record-breaking domestic and overseas TV rights deals come on line in 2007/08, this share will actually increase.”

“We expect to see further investment in English clubs in 2008 as more Premier League and Championship clubs come under the management of investors from around the globe.”   

© Copyright 2007 by Finfacts.com

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