Man United become first UK club to earn over half a billion pounds in a year

Manchester United have announced total revenue of £515.3 million ($683.5m) and a record profit of £68m for the year ending June 30, 2016. They are the first English club to breach the £500 million mark. Following the announcement, Executive Vice Chairman Ed Woodward reaffirmed the club's ambitions to return to the pinnacle of the sport. He also highlighted the effect world record signing Paul Pogba has already had, saying that the impact on Facebook was "more than Bale and Neymar combined."

United, who agreed a 10-year £750m ($1.28 billion) contract with Adidas -- the biggest deal in sports-licensing history -- in 2014, have a net debt that is £260.9m, but commercial revenue has soared to £268.3m, which is an increase of 36.3 percent over the prior year.

Woodward had previously been reported as saying: "Our record Fiscal 2016 financial performance reflects the continued underlying strength of the business and the club is on target to achieve record revenues in 2017, even without a contribution from the Champions League."
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