Date: 7th January 2008 at 11:41am
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Manchester United will announce record turnover, according to media reports.

Arsenal proudly boasted that with their Ł201m turnover, they are now England’s richest club (Chelsea are excluded of course since they are not a normally run business).

Now it seems that Arsenal’s gloating has been a bit premature (how often that happens…) as United prepare to announce obscene amount of turnover. We are practically raking in the money it seems.

The newspapers report that our turnover increased to Ł245m, due to our record deal with AIG and Nike, and last season’s successes on the pitch. With United almost flawless in the Champions League this season and very much there in the Premier League, we are well-positioned to have another lucrative season.

The wages-to-turnover ratio, according to the reports, is down to 43.6%, well below the Glazers’ long-term aim of 50%. In terms of financing the massive debts, this is extremely good news and United are in a better financial position than what could have been anticipated at the takeover…