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Man Utd profit rises as club looks to Ratcliffe for on-pitch success
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Man Utd profit rises as club looks to Ratcliffe for on-pitch success
Mar 12, 2024 4:55 AM

March 12 (Reuters) - Manchester United ( MANU ) is

looking to new co-owner Jim Ratcliffe to help "deliver success

on the pitch", it said on Tuesday, after broadcasting revenue

from the lucrative UEFA Champions League boosted the club's

second-quarter profit.

The Premier League club, which was knocked out of Europe's

top tier competition late in the quarter, reported net income of

20.4 million pounds ($26.10 million) for the three months ended

Dec. 31, compared with 6.3 million pounds a year earlier.

"This is an exciting time at Manchester United ( MANU ) following the

completion of Sir Jim Ratcliffe's investment, and we are all

focused on working together with our new co-owners to drive the

club forward and deliver success on the pitch," finance chief

Cliff Baty said in a statement.

Ratcliffe struck a long-awaited deal in December to buy a

25% stake in the club and take charge of their soccer operations

to try to revive its fortunes on the pitch.

United, currently sixth on the Premier League table, cut its

annual profit and revenue forecast in January, weeks after it

was knocked out of the Champions League.

It kept that forecast unchanged on Tuesday.

Revenue at the club rose 35% to nearly 226 million pounds in

the quarter.

($1 = 0.7816 pounds)

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Devika

Syamnath)

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