Manchester United are on course to become the first British club to earn more than £500 million in one year despite a lack of success, according to the BBC.
Still, the Old Trafford club are expecting revenue for the year to hit £500 million to £510 million. No British club in history has recorded such a figure.
United showed its commercial strength when it raised its core earnings expectations for the year to a record £133.8 million, a 26.6 per cent rise in quarterly revenue.
Commercial revenue in the quarter jumped 42.5 per cent to £66.1 million and broadcasting revenue rose by 31.3 per cent. However, matchday income was down 1.6 per cent.
Executive vice-chairman Ed Woodward said: “Our solid results off the pitch help contribute to what remains our number one priority – success on the pitch.”
Woodward was expected to face a grilling by United’s investors following the poor results this season.
However, the 44-year-old received only one question from representatives of JP Morgan and Credit Suisse, among others, what the impact of missing the Champions League could have on player’s wages, according to The Guardian.
Other questions ranged from the impact of the Chinese Super League on future transfer fees, ticket prices, the youth academy, apparel opportunities and the expansion of the Old Trafford retail store.