Manchester United recorded a profit of £6.3 million in its quarterly accounts

Manchester United made a profit of £6.3m for the three months ending December 2022, while seeing their commercial income rise by £14.3m to £78.7m in the same quarter.

However, matchday revenue fell by £4.7m to £29.9m due to playing two fewer home games in the current quarter compared to the three months ending December 2021.

United’s total revenue fell from £185.4m to £167.3m.

The Glazer family, who have been paid more than £150m since 2016, did not receive a dividend and while gross debt remains unchanged in the US at $650m, the strength of the US dollar against the British pound means it has risen from £477, 1 to £535.7 million.

United̵[ads1]7;s quarterly accounts also reveal that the club plans to repay the £206.2m it owes in credit before 30 June.

“Based on the club’s expected seasonal working capital cycle, it is expected that the club will be able to reduce the balance on the club’s facilities to zero by 30 June 2023,” the statement said.

Elsewhere, sponsorship revenue for the three months ending December 2022 increased by £15.2m to £50.4m due to the training kit deal with Tezoz, along with a one-off sponsorship credit.

Broadcast revenue fell by £27.7m to £58.7m because the men’s first team participates in the Europa League compared to the Champions League the previous year.

Staff costs for the quarter fell by £20.4m to £77.3m due to squad turnover and missing out on Champions League qualification.

There are currently 145,000 people on the season ticket waiting list and ticket sales for the men’s team at Old Trafford have broken the record set in 2016-17, with a total of 2.3 million tickets sold.

In February, it was announced that season ticket prices would increase after being frozen for 11 consecutive seasons.