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Man U post sharp increase in revenue

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LONDON, England, February 21 – 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 £175million ($276million; 209million euros) 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 £18.5million from the £156.5million reported over the same period in 2010.

The rise was attributed to an increase in matchday revenue from £52.4million to £54.5million, media earnings, up from £53.7million to £60.9million, and commercial income, which increased from £50.4million to £58.6million.

United’s debts meanwhile were reduced to £439million from £508million the previous year.

United’s increase in revenues however were offset by a rise in operating costs from £96.9million to £110.8million.

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

United’s cash reserves meanwhile were put at £50.9 million.

Meanwhile, United goalkeeper Tomasz Kuszczak has joined Championship side Watford for the remainder of the season after agreeing an emergency loan deal, it was confirmed on Tuesday.

The 29-year-old Poland international has failed to nail down a first team place at United since joining in 2006 and has been unable to dislodge either David De Gea or Anders Lindegaard this season.

Kuszczak, who spent two seasons with West Bromwich Albion before joining United, was due to take part in his first training session with the Hornets later Tuesday.

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