English soccer club Manchester United on Tuesday forecast falls in 2019-20 revenue and core profit after missing out on a berth in the lucrative UEFA Champions League following a string of inconsistent performances.
The 20-time English champions, who failed to qualify for the Champions League last season, forecast revenue of £560-580 million, down from £627.1m reported for 2018-19.
It expects adjusted core profit of £155-165m, down from £185.8m last year.
The club, which will not be able to fully capitalise on UEFA’s broadcasting revenue distribution system due to missing out on the Champions League, is already off the pace in the new Premier League season.
The team sits eighth after a stuttering start to the campaign
