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Manchester United's financial boost

Manchester United have announced second quarter figures in the six months to December 31 2010 with the turnover increasing to £156.6million and earnings increasing to £60.6million.

During the six month period, the figures show an increase of revenue by 8% and the earnings were increased by 3% (before interest, tax, depreciation and amortisation).

Manchester United used their commercial activities to great effect with the revenue jumping to £50.4million, an increase of £11.7.million. Matchday revenues made a loss of £200,000 and are now at £52.4million and media revenues remain largely flat.

During this quarter, the clubs parent firm Red Football, bought back £24million of secured bonds. A year ago the debt was at £512.5million but now stand at £489.4million with the balance sheet also showing an increase of £12.4million to £134.5million

This statement came in conjunction with the Glazier family reiterating there stance that the club is not for sale who “remain committed to their long-term ownership of the club.”

Reports have been emanating that discussions have been held with the Qatari royal family over a deal sell the club to the Qatari royal family but the club have stated that "no discussions have taken place". The club added: "Manchester United is not for sale and the owners will not entertain any offers."

Taz Mannan

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