Thursday 12 November 2015 17:25, UK
Manchester United are on course to become the first club to make more than £500m in a year, according to their latest financial results released on Thursday.
United's total revenue for the three months to the end of this September was £123.6 million, an increase of 39% on the same period in 2014.
The club's revenues were boosted by the launch of their sponsorship deal with Adidas, which is worth a minimum of £750m over ten years, and the Red Devils' return to the Champions League.
Champions League football also contributed to a rise of 64.3 per cent in broadcasting revenue and a rise of 64.2 per cent in matchday revenue.
The figure for EBITDA - which reflects the underlying profitability of the company - was up more than 100 per cent to £41.6m.
Ed Woodward, Executive Vice Chairman, commented, "Our record first quarter revenues and EBITDA demonstrate the continued strength of our businesses.
"We are delighted with the early progress made in licensing. During the quarter we entered into an agreement with HCL to be our Digital Transformation partner, which will enable us to connect with our fans around the world in innovative ways and further strengthen and grow our commercial revenues."
