MANCHESTER UNITED have reported record revenues of £433.2m for last season but expect these to drop by more than £40m as a result of failing to qualify for Europe.
The annual figures also show that the club made a £23.8m profit and paid out £5.2m in compensation to sacked manager David Moyes and some members of his coaching team. The results also report that United expect "revenue to be £385m to £395m" for the 2014/15 season, a drop of around 10%.
United's wage bill rose 19% to £214.8m, an increase of £34.3m "primarily due to the impact of player acquisitions and renegotiated player contracts", according to the annual report.
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