Nath
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David Gill believes the future is 'promising' for Manchester United after the club announced an increase in profits.
In the first full year of the Glazer era at Old Trafford, The Red Devils saw turnover rise from £157.2million to £165.4million for the year ending 30th June 2006.
The current Premiership leaders also reported a pre-tax operating profit of £30.8million, compared to a figure of £10.8million for the previous 12 months.
And with a new television deal to start next season, United chief executive Gill is expecting the numbers to stay on the increase.
"In the course of the next two years, I expect the club's revenues to show dramatic growth, due to a combination of increased stadium capacity and greater sponsorship and television income," said Gill.
"The club are in a very healthy position. Our attendances are now the envy of European, not just UK football, and with a burgeoning season ticket waiting list, watching United at Old Trafford is still in great demand.
"The future is promising for the club. We continue to operate by budgeting sensibly and managing our affairs through stable business practices.
"Success on the pitch will always be a driver for success off it and from this base, the club are healthily placed to begin a period of renewed growth."
United's borrowings, however, also rose from £580million to £660million, although this was part of a restructuring programme which has been attributed to 'good housekeeping'.
[Edited on 26-01-2007 by Nath]
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Marc
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Cosmotron 
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Nath
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He'll highlight the last line...
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Rachel H
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They are gonna get relegated next season.
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Marc
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Shut up Oliver.
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Nath
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quote:
Originally posted by Rachel H
They are gonna get relegated next season.
Reading for the Premiership crown!
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Marc
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Reading for UEFA Cup and Ipswich for League 1.
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Nath
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Here here.
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Jamie Walby
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They need to get on the blower to Phil Tuffnell and his mates at loans.co.uk so that they can restructure the loan in to smaller manageble monthly repayments, with no repayments for the frst five months.
'Appy days.
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Marc
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I hope they get that tasty brunette from the adverts
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Jamie Walby
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Rachael I think her name is Marc 
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Marc
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If you say so 
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Jamie Walby
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I watch too much tele
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Hammer
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I think they'll go bust.
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Marc
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Cosmo
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Typical accounting trick. Throw out some nice looking figures and will convince 90% there is nothing worng but...its only operating profit, so therefore no deduction of intetest payments (or taxes but thats not the big point), and obviously operating income. I have no doubt that will probably continue to increase over the years with the increase in ticket revenues and TV rights.
I'd like to see what the final profit levels are after the interest payments and what kind of figure they are, especially now the debt is 660m
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Marc
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Shall I look for another team? 
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Cosmo
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As Ive always said...Utd wont go bust unless they fail to make it to the later stages of the Champions League and do well in the Prem over the next 5 years or so....oh and that the rest of Glaziers businesses do well!
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Nath
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quote:
Originally posted by Marc
Shall I look for another team?
I think you should tbh.
RIP Man Utd
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Marc
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quote:
Originally posted by Sooty
idiot, cant stand him anymore, nothings wrong at all .... tosser, feel free to tell him that
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Nath
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Cosmo
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Cosmo
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regardless, when the accounts are released I would like to see what the interest repayments are like. I can only think they are huge as to only give the operating profit.
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Marc
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BBC Sport story:
Manchester United's profits flat
Manchester United is chasing bigger profits this season
Football club Manchester United has reported flat profits for the season 2005/06, the first in which the Glazer family was at the helm.
Operating profit for the 12 months to 30 June 2006 was £49.7m ($98m), against a £46.1m profit in the prior reporting period, which only covered 11 months.
United was hit by the impact of exiting the Champions League at the first stage - saying it cost them £2.8m in revenue.
CEO David Gill said the club was now poised for "dramatic revenue growth".
'Sell-out crowds'
US tycoon Malcolm Glazer bought United for £790m in 2005, in a deal that was heavily financed through debt, much of it transferred onto the club.
Since June 2006 the club has been reaping the benefit of its four-year £56.5m shirt sponsorship deal with AIG, and seen match day revenue increase with the growth in its Old Trafford stadium capacity from 68,000 to 76,000.
In addition, the latest round of domestic TV football rights, signed last summer, have generated £1.7bn ($3.1bn) in total for Premier League clubs.
The new Premier League TV deal for 2007-10 could see a 65% increase in Premiership TV money for every top flight club, according to Barclays Capital.
After the club revealed its latest figures Mr Gill said: "With sell-out crowds at the extended Old Trafford and record sponsorship deals like AIG, Manchester United can look forward to a future marked by dramatic revenue growth."
Transfer deal
Profit before tax was £30.8m, up from £10.8m, with £12m of that secured from the sale of Nigerian youngster Jon Obi Mikel to Chelsea.
And turnover at United, which last year lost its place at the top of the Deliotte world rich list of football clubs, was £165.4m, against £157.2m in the period before.
United said that during the 2005/06 period it paid £1.8m in fees to agents, against £2.6m in the previous 11 month period.
The club also said it had 64,000 season-ticket holders and a waiting list of 10,000 more.
In July last year the Glazers were also able to secure a refinancing package which saw loan charges on sums, borrowed by the Glazers to buy the club, fall from £90m ($164m) a year to £62m.
As part of the restructuring plan, overall borrowings went up from £580m to £660m, but the club reassured fans - many concerned at the level of debt - that the moves were "good housekeeping".
I don't see this as any differant from a remortgage.
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Cosmo
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so your operating profit is £30.8m, and your loan charges are £62m
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