Ed Woodward, Executive Vice Chairman, commented, “We concluded a successful 2016/17 season with a total of three trophies and a return to Champions League football. The year saw us set record revenues of over £581m and achieve a record EBITDA of £199.8m. We are pleased with the investment in our squad and look forward to an exciting season.”
Operating expenses
Total operating expenses for the year were £511.3 million, an increase of £74.7 million, or 17.1%, over the prior year.
Employee benefit expenses
Employee benefit expenses for the year were £263.5 million, an increase of £31.3 million, or 13.5%, over the prior year, primarily due to an increase in first team salaries, following investment in the first team squad.
Net debt
Net Debt as of 30 June 2017 was £213.1 million, a decrease of £47.8 million over the year. The gross USD debt principal remains unchanged.
Commercial
Commercial revenue for the year was £275.5 million, an increase of £7.2 million, or 2.7%, over the prior year.
For fiscal 2018, Manchester United expect:
- Revenue to be £575m to £585m
- Adjusted EBITDA to be £175m to £185m