Manchester United Set to Smash Revenue Records Despite Ongoing Takeover Drama

Manchester United is expected to achieve a groundbreaking yearly revenue of £640 million in the ongoing financial year as the club's takeover situation continues to unfold. The Glazer family, who own United, are currently considering offers for the club from Qatari banker Sheikh Jassim and Sir Jim Ratcliffe, the founder of Ineos, a chemicals company.

The Glazers initially expressed their willingness to sell through a strategic review in November last year, but the bidding process has been prolonged. It has been reported that Sheikh Jassim's offer, which entails acquiring the entire club, is currently the most probable to be accepted.

Sources close to the Qatari bid have expressed their keenness to finalize the agreement, especially with the commencement of the summer transfer window.

In conjunction with the launch of the team's kit for the upcoming season, fans at Old Trafford organized another round of demonstrations against the Glazers.

In the third quarter financial results, released on Tuesday, the revenue guidance for the current financial year has been increased to a historic range of £630m to £640m. This boost can be attributed to the exceptional match attendance and matchday earnings. Ticket sales for the 2022-23 season have exceeded the previous record set in 2016-17, with a total of 2.4 million tickets sold.

Global memberships also hit 360,000, which United said was the largest paid membership programme in world sport.

Revenue for the third quarter was up 11% on the same period last year.

Broadcasting revenue decreased slightly compared to the same period due to United's participation in the Europa League instead of the Champions League. However, this decline was partially compensated by the club's success in domestic cup competitions.

The current balance of cash and cash equivalents is £73.7m, showing a decrease from £95.8m in the previous year. This reduction reflects the investments made in strengthening the team.

The figure is £31m higher than in the second quarter, primarily due to the influx of funds from sponsorship and ticket sales. Sources close to the club assure that the summer recruitment will remain unaffected by these results, as there is ample cash available for United boss Erik ten Hag to invest in the team.

The limiting factor is understood to be the requirement to stay within financial sustainability rules.

Fans block Man Utd megastore in Glazer protest

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Manchester United fans staged a protest outside Old Trafford, with police present, to express their discontent with the club's ownership under the Glazer family. On Tuesday, they blocked the entrance to the club's Megastore as part of their ongoing efforts to demand change.

Sheikh Jassim and Sir Jim Ratcliffe have submitted competing offers to acquire ownership of the Old Trafford club. However, supporters are becoming increasingly dissatisfied with the slow pace of the proceedings, which were initiated in November of last year when the Glazers expressed their desire to sell.

The fans' group, The 1958, organized the protest to coincide with the release of the team's new home kit.

Ratcliffe's bid aims to allow the Glazers to retain some level of involvement in the club, whereas the Qatari group is seeking a complete buy-out of 100%.

Announcing the protest on Monday evening, The 1958 posted on Twitter: "Everyone has a part to play in this battle against Glazer. For you, for us, for each other."