Man United profits surge to £30m

Manchester United are predicting "dramatic growth" in their income over the next two years after seeing their profits rise by…

Manchester United are predicting "dramatic growth" in their income over the next two years after seeing their profits rise by £20million to £30.8 million last year.

The club's annual report reveals that turnover was £165.4 million in the year ending June 30th, 2006, compared to £157.2 million in the previous year, while operating profits were up from £10.8 million to £30.8 million.

The figures were achieved despite United last season failing to qualify for the group stages of the Champions League for the first time in a decade.

United chief executive David Gill said the new Premier League TV rights deal, the record shirt-sponsorship deal with insurance firm AIG and the increase of the Old Trafford capacity to 76,000 seats will lead to a major cash injection with well over £2 million in ticket sales every home game.

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Mr Gill said in the report: "In the course of the next two years, I expect the club's revenues to show dramatic growth, due to a combination of increased stadium capacity and greater sponsorship and television income."

The £12 million that Chelsea had to pay United in compensation for Mikel Jon Obi helped swell United's coffers last year, but the income streams for the next year look staggering.

The AIG deal is worth £18 million a year, TV money from the Premier League will be around £50 million, the Champions League should see income of around £20 million while the average crowd at Premier League matches this season has been 75,776, bringing in around £2 million in ticket sales for every home match.

The report reveals United paid £1.8 million to agents compared to the £2.6 million the previous year.

They are not compelled to reveal such payments.