Manchester United raise annual forecast as Champions League return – Reuters.com

June 27 (Reuters) – Manchester United (MANU.N) on Tuesday raised its full-year revenue and adjusted profit forecasts, betting on strong commercial and matchday revenues as the English football club returns to the UEFA Champions League.

Manchester United, which is currently in talks to sell itself, said it expected revenue of between £630 million ($801.6 million) and £640 million, up from its previous forecast of between £590 million and £610 million. million pounds.

The US-based Glazer family, which owns the club, said in November they were considering a sale of the 20-time English football champion in what could be the biggest sporting deal ever.

They received several bids, including from Qatari Sheikh Jassim bin Hamad al-Thani, British billionaire Jim Ratcliffe and Finnish businessman Thomas Zilliacus.

Reuters reported earlier this month that the club is negotiating to grant exclusivity to the consortium led by the Qatari sheikh in talks to sell itself for more than $6 billion.

There were no updates on the Manchester United deal on Tuesday and US-listed shares fell 1.4% in premarket trading.

Manchester United also raised its adjusted profit forecast to between £140 million and £150 million for the year, up from its previous forecast of between £125 million and £140 million.

For the third quarter ended March 31, net loss was £5.6 million, compared to £27.7 million in the same period last year.

($1 = 0.7860 pounds)

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