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Manchester United report sharp surge in revenues

sports Updated: Feb 22, 2012 01:01 IST

Manchester United reported a sharp increase in revenues over the final six months of 2011 following rises in matchday income, media and commercial earnings, the club announced Tuesday.

United's revenues increased to £175 million (Rs 1359.5 crore) in the second half of last year, the club revealed as they released their financial report for the fourth quarter of 2011.

The figure was up £18.5 million (Rs 143.7 crore) from the £156.5 million (Rs 1215.7 crore) reported over the same period in 2010. The rise was attributed to an increase in matchday revenue from £52.4million (Rs 407.1 crore) to £54.5million (Rs 423.4 crore), media earnings which were up from £53.7million (Rs 417.16) to £60.9million (Rs 473.1 crore) and commercial income, which increased from £50.4million to £58.6million.

United's debts meanwhile were reduced to £439 million (Rs 3410.3 crore) from £508 million (Rs 3946.4 crore) the previous year. The increase in revenues however were offset by a rise in operating costs from £96.9 million (Rs 752.8 crore) to £110.8 million (Rs 860.8 crore).

Net expenditure on players also increased, reflecting the summer signings of David de Gea, Ashley Young and Phil Jones.

Terry undergoes knee operation
London:
Chelsea captain John Terry is to undergo surgery on his injured right knee and faces several weeks on the sidelines, several English media outlets reported on Wednesday.

In a major blow to Chelsea's Premier League and Champions League campaigns, the inspirational defender could be out of action for up to eight weeks after his injury failed to heal as expected.

Terry suffered the injury after colliding with a goalpost during last month's FA Cup victory over Portsmouth at Stamford Bridge.