Revenues made by Manchester United have hit a record as the football club earned more money from TV rights.

The club reported revenues of £590m in the year to the end of June, up 1.5% on the prior year, and forecast they would top £600m next time

TV revenue rose 5.2% to £204m after the club finished second in Premier League last season, against sixth before.

But there was a big revenue fall in the final quarter due to United’s poor showing in a key European competition.

Revenue for the three months to 30 June fell 16% to £147.6m, as United failed to make it through to the quarter-finals of the lucrative UEFA Champions League.

With the New York-listed club back in the competition this year, United is predicting that revenues will be between £615m to £630m in the current financial year.

Executive vice chairman Ed Woodward said: “Our increased revenue expectation for the year demonstrates our continued strong long-term financial performance which underpins everything we do and allows us to compete for top talent in an increasingly competitive transfer market.”

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