Man Utd release record revenue figures and true cost of Moyes’ reign

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Short lived, high cost: David Moyes and his staff were paid Dh30.8m in compensation.

Manchester United have reported record revenues of £433.2m (Dh2.56bn) for last season but expect these to drop by more than £40million (Dh237m)  as a result of failing to qualify for Europe.  

The annual figures also show that the club made a £23.8m (Dh141m) profit and paid out £5.2m (Dh30.8m) in compensation payments to sacked manager David Moyes and some members of his coaching team.

The results also report that United expects "revenue to be £385m to £395m" (Dh2.28bn – 2.3bn) for the 2014/15 season, a drop of around 10 per cent. United's executive vice-chairman Ed Woodward hailed the growth in revenues and the potential impact of recent signings including Radamel Falcao and Angel di Maria.

Woodward said in a statement: "We are very proud of the results achieved in fiscal year 2014 as we once again generated record revenues.

"With Louis van Gaal at the helm as manager, and the recent signing of some of the world's leading players to further strengthen our squad, we are very excited about the future and believe it's the start of a new chapter in the club's history.

"Louis' footballing philosophy fits very well with Manchester United and he has an impressive track record of success throughout his career, winning league titles with every club he has managed."

United's wage bill rose 19 per cent to £214.8million (Dh1.27bn), an increase of £34.3million (Dh203.2m) "primarily due to the impact of player acquisitions and renegotiated player contracts", according to the annual report.

The figures reveal United's sponsorship income increased by 49 per cent last year with a number of new deals coming on stream.

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Manchester United to announce record revenues

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Cash to burn: United spent big in this summer's transfer window, bringing in the likes of Radamel Falcao (l) and Angel Di Maria (r).

Football giants Manchester United are set to announce record revenues of around £420 million (Dh2.48bn) for last season when they publish their annual results on Wednesday.

Figures are also expected to include £25m (Dh147.8m) in profit, aided by worldwide sales of two million replica shirts. The results should also include details if the pay-off to former manager David Moyes, sacked less than one season after succeeding long-serving and multiple trophy-winning boss Alex Ferguson at Old Trafford.

However, this set of accounts is not expected to include the scale of losses incurred as a result by the club's failure to qualify for lucrative European tournaments as a result of finishing an unusually lowly seventh in the English Premier League last season.

Forecasts for the headline figures have already been published in a prospectus published in August for a new release of shares on the New York Stock Exchange, with the US-based Glazer family the majority stakeholders in the English football institution.

The prospectus states that total revenue is expected to be around the Dh2.48bn mark, an increase of 18 to 19 percent. Profit for the year is expected to be down from the 2012/13 season but that was mainly due to a one-off tax credit.

Approximately five million Manchester United-branded licensed products were sold last year including two million replica shirts.

The prospectus said: "The Manchester United jersey and training wear are completely redesigned for each season. The annual launch of the new jersey is always a much-anticipated day for our global community of followers.

"The result is a robust wholesale apparel business that sold approximately five million items of Manchester United branded licensed products, including approximately two million replica jerseys, around the world in the last year."

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Man United dismiss Falcao age accusations

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Numbers game: Striker Falcao has faced accusations he is older than he says.

Manchester United have insisted there is no issue with regard to the age of their new striker Radamel Falcao.

Falcao, who United signed on a season-long loan deal from Monaco on transfer deadline day, has de­nied reports he is two years older than he claims, which would make him 30 rather than 28.

Such talk has surrounded the Colombia international for some time and in 2013 he addressed the matter on Twitter, stressing the speculation was “completely ridic­ulous”.

He has also previously released a copy of his birth certificate in a bid to prove that he is the age he says he is. United have now played down the idea of Falcao lying about how old he is, saying there has not been a problem on that front as far as the club are concerned.

“We were aware of the rumours at the time and it was never an issue,” a Red Devils spokesman said yesterday.

Falcao could make his United debut in Sunday’s Premier League home clash with QPR.

Meanwhile, Italian midfield­er Davide Petrucci has joined Romanian club CFR Cluj after being released from his United contract by mutual consent.

The 22-year-old joined the Red Devils from hometown club Roma in 2008 but was unable to break into the first team at Old Traf­ford and spent time out on loan at Peterborough, Royal Antwerp and Charlton.

A United statement read: “Eve­ryone at Manchester United would like to wish Davide well at his new club.”

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