Manchester United's income dropped by almost 10 per cent in the first quarter of this financial year due to the club's absence from the Champions League.
Revenue for the three months ending September 30 was £88.7million, down £9.8million compared to £98.5million for the same period a year ago, a 9.9 per cent drop.
The fall in income, shown in accounts published on Tuesday, could have been even greater but the cost of United's absence from European football has been partially compensated for by an increase in sponsorship money and a lower wage bill.
Manchester United latest annual results confirm the club's rapid commercial expansion.
With new deals being announced on almost a weekly basis, it is no surprise commercial revenues have risen a staggering 29.7% to £152.5million for the year ended June 30, 2013.
It is the most significant rise in an overall 13.4% increase in turnover to a club record of £363.2million.
The club's debt has fallen by 10.9% to £389.2million.
Manchester United have employed a specialist acoustic engineer in an attempt to improve the atmosphere at Old Trafford, Manchester Evening News reports.
Despite the stadium being nicknamed the ‘Theatre of Dreams’ and being the largest in the Premier League, the stadium was is often ridiculed for having a poor atmosphere. A club source told the Manchester Evening News:
"There were supporters in the Stretford End who thought they had made a lot of noise only for friends in different parts of the ground to say they couldn't hear them."
The expert attended the Liverpool match in January and will visit the 75,000 capacity stadium again before the season’s conclusion, before submitting findings to the clubs management, according to Manchester Evening News.
The Premier League leaders refused to comment on how much they are paying for the specialist’s expertise.
Sir Bobby Charlton has backed England to win Euro 2012 if they can overcome Italy tonight.
The 1966 World Cup winner was speaking after he carried the Olympic flame as it passed Manchester United's Old Trafford stadium this morning.
The 74-year-old Manchester United hero was one of 151 torchbearers who are carrying the torch today as it makes its way from Manchester to Leeds.
Asked about his thoughts on England's chances in tonight's game, he said: "If England can beat Italy, England will win it. If we beat Italy tonight we can start getting excited. I really think we can win it."