English football club Manchester United on Tuesday forecast falls in 2019/2020 revenue and core profit after missing out on a berth in the lucrative UEFA Champions League.
They had missed out in the wake of a string of inconsistent performances.
The 20-time English champions, who failed to qualify for the Champions League last season, forecast revenue of 560 to 580 million pounds, down from 627.1 million pounds reported for 2018/2019.
They expect an adjusted core profit of 155 to 165 million pounds, down from 185.8 million pounds last year.
The club will now not be able to fully capitalise on UEFA’s broadcasting revenue distribution system due to missing out on the Champions League.
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They are already off the pace in the new Premier League season, as they currently sit eighth after a stuttering starts to the campaign. (Reuters/NAN)
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