Man Utd post record profits in year club returns to top Europe league

English premier league Manchester United (MUFC) announced record revenues and profits Thursday in the club's latest set of annual figures.

The club turnover was 784 million U.S. dollars with profits of 109 million U.S. dollars, accounts for the year ending June 2017 show.

Both figures smash previous records which were set last year.

The report projects that MUFC's revenue for 2018 will be around 780 million U.S. dollars at current exchange rates.

United's wage bill, which includes player acquisitions up to June 30, rose by 42,2 million U.S. dollars to just over 355 million U.S. dollars, which represents the biggest outlay in the English Premier League.

The club's executive vice chairman Ed Woodward said: "We concluded a successful 2016-17 season with a total of three trophies and a return to Champions League football. The year saw us set record revenues. We are pleased with the investment in our squad and look forward to an exciting season."

MUFC's commercial revenue during the year was 372 million U.S. dollars, an increase of 9.7 million U.S.dollars on the previous year.

The club also brought in 262 million U.S. dollars in broadcasting revenue, an increase of 72.4 million U.S. dollars over the previous year. This was largely to the Premier League's new rights broadcasting agreement and MUFC's progression to the Europa League final.

The report also shows that MUFC's gross debt has dropped this year to 287.5 million U.S. dollars, compared to the previous year's level of 352 million U.S. dollars.