Manchester Sep 21 (IANS) Manchester United announced record revenues and profits on Thursday in the club s latest set of annual figures.
The club turnover was $784 million with profits of $109 million accounts for the year ending June 2017 show reports Xinhua news agency.
Both figures smash previous records which were set last year.
The report projects that United s revenue for 2018 will be around $780 million at current exchange rates.
United s wage bill which includes player acquisitions up to June 30 rose by $42.2 million to just over $355 million which represents the biggest outlay in the English Premier League (EPL).
The club s executive vice chairman Ed Woodward said: "We concluded a successful 2016-17 season with a total of three trophies and a return to Champions League football.
"The year saw us set record revenues. We are pleased with the investment in our squad and look forward to an exciting season."
United s commercial revenue during the year was $372 million an increase of $9.7 million on the previous year.
The club also brought in $262 million in broadcasting revenue an increase of $72.4 million over the previous year. This was largely due to the EPL s new rights broadcasting agreement and United s progression to the Europa League final.
The report also shows that United s gross debt has dropped this year to $287.5 million compared to the previous year s $352 million.
--IANS
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