Red Devils on target to post record revenues

Manchester United are on course to post record revenues despite debt spiralling to £409.3m, according to their executive vice chairman.

Latest accounts show the Red Devils posted an operating profit of £37.6m during the three months to December 31, 2016. However, a strengthening dollar post-EU Referendum vote meant an £88m increase in gross debt for the Club.

Meanwhile, broadcasting revenues for the quarter stood at £52.5m – up 41%, and matchday revenues were 27% up at £38.6m.

Ed Woodward, executive vice chairman, said: “We are pleased to be competing for the first available trophy of the season when we travel to Wembley to face Southampton in the EFL Cup final this month.

“The robustness of our business model continues to be reflected in our strong quarterly financial results and we remain on track to deliver record revenues for the year.

“Finally, I’d like to congratulate Wayne Rooney on becoming Manchester United’s all-time record goal scorer – achieving the remarkable feat of scoring 250 goals over the last 13 seasons, surpassing Sir Bobby Charlton’s record which has stood for 44 years.”