The publicly-traded soccer giant Manchester United MANU is about to take home another title, despite the fact that the Premier League season doesn’t conclude for months.
The club announced that it expects revenue for the year to be between £500 and £510 million ($760-$775 million), which will make it the highest-grossing soccer club ever. No other team has generated more than $760 million in a year so far.
Manchester United said its revenue was boosted by a jump in jersey sales. With the club bringing in starts like Bastian Schweinsteiger, Memphis Depay, Juan Mata, and Ángel Di María over the past few seasons, it’s no wonder that fans have been eager to wear new names on the back of their jerseys.
In addition to this, the Red Devils are back in the UEFA Champions League, which brings together the top teams throughout Europe for a massive revenue generating competition. After failing to qualify for last season’s Champions League, Manchester United is happy to rake in the extra cash this year.
Nearly a quarter of the way through the Premier League season, United sits in fourth-place and just two points behind the league leaders, meaning that the club are in a good position to stay in the Champions League.
The club also signed a 10-year contract with Adidas ADDYY in 2014, which will pay over $1 billion over the course of the deal.
While continued success on the field will continue to help bring in revenue, Manchester United have one of the biggest followings in sports, meaning that MANU could continue to grow regardless of on the pitch performance.
Want the latest recommendations from Zacks Investment Research
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
ADIDAS AG-ADR (ADDYY): Free Stock Analysis Report
MANCHESTER UTD (MANU): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research