Gill hails United finances

Gill praises Glazers after announcing results

Last updated: 11th January 2008   Subscribe to RSS Feed

Gill hails United finances

Gill: Delighted with results

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Manchester United have been declared the world's richest club once more.

Although Real Madrid laid claim to the honour for a couple of years, United officials believe their gross revenue of £245million in the year to June 2007 exceeds that of the Spanish giants by just 12 Euros if average conversion rates during the 12-month period in question are used.

United's current fan-base has been estimated at 333 million, with chief executive David Gill believing the number of active supporters hovers around the 139 million mark - of whom 83 million are based in Asia.

The Old Trafford outfit have also revealed stunning profits of £59.6million for the 12 months to June 2007, a massive 93 per cent rise on the previous year.

With revenue streams increasing in every area and more to come this year once the new, vastly-improved Premier League TV deal starts to take effect, United are in far healthier shape than anyone could have predicted before the Glazer family's involvement following the controversial takeover in 2005.

Gill was full of praise for the Glazers and their involvement in helping United record such healthy profits.

Excellent results

"They are excellent results which reflect a fantastic season on the pitch and also the work that has gone on off the pitch, with the expansion of the stadium and the new shirt deal so we are very pleased," Gill told Sky Sports News.

"The Glazers are not in this for publicity or ego - but they have been true to their word.

"They have also added value in other areas. The AIG shirt-sponsorship deal was a world record - that was down to them.

"The financial position of the club is not something that worries us. Clearly, the cash from these results will be used partially to service the debt and also to reinvest in players.

"The banks would not have leant money to the club if they did not feel there was a sensible structure in place, and there has never been any brake on funds."

No moves

Despite their healthy financial position, Gill insists the club have no plans to make any moves in this month's transfer window.

"We have no plans to do anything," added Gill. "We have a great team, we have a great outlook so there are no real plans.

"So unless something happens, I can't see it happening, we will take what we have got."