Manchester United has lifted its profit outlook for the year, as the Premier League football club continues to keep its fans waiting on the potential sale of the club.
Current owners, the Glazer family, have been looking through rival offers for weeks. There are thought to be two names on the shortlist: the billionaire founder of Ineos Chemicals and lifelong fan Jim Ratcliffe and Sheikh Jassim Bin Hamad Al Thani of Qatar.
The commercial fortunes of the club are on the up as the sale looms. United is on course for a record revenue year, upping its forecasts to range between £630 million and £640 million from a £590 million to £ 610 million range previously. Earnings are now expected at between £140 million and £150 million.
Its third-quarter operating loss narrowed to £4.7 million from £22 million.
Fans are keen to seen an end to the Glazers’ tenure. Their leveraged buyout of what was then one of the English top flight’s best-run clubs in 2005 left it saddled with debt.
The family, which also has interests in US sport, was thought to be open to a full sale, likely to value the club at between £5 billion and £6 billion. But during talks, it emerged that the current owners are also considering retaining part of the club.
During the Glazers’ unpopular reign, supporters of the Reds have watched the rise of local rivals Manchester City. The Blues have become the dominant force in English football, this year winning the treble – the Premier League, the FA Cup and the Champions League – matching United’s main achievement, which was made long ago, in 1999.
United remains England’s most successful club in terms of top-flight league titles. It came third last season, behind City and Arsenal.
The corporate update for shareholders mentioned new player deals signed by Luke Shaw, Alejandro Garnacho and Diogo Dalot. It also pointed to what it called an “#ILOVEUNITED” event in Singapore, “with record-breaking fan attendance and activations from 16 global partners.”
