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Man Utd income down by almost 10%

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Old Trafford. Credit: PA

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.

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Man United legends seal Salford City deal

Man United
How far can the class of 92 take Salford City FC? Credit: PA

The acquisition of Salford City Football Club, partly-owned by former Manchester United stars Gary and Phil Neville, Ryan Giggs, Paul Scholes and Nicky Butt, has been formally approved by the Football Association and the Northern Premier League.

Back in March the ex-Red Devils quintet agreed to take over the Evo-Stik Division One North club and in September Singaporean businessman Peter Lim - owner of Valencia - took a 50% share in the venture.

The final paperwork on their deal has now been completed after approval from the governing body and league. The management of the club on a day-to-day basis, as announced back in March, will remain the same.

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