Manchester United have proven that it’s not all doom and gloom in the North West after posting increased revenue figures for the last six months of 2011.
United, who are the third richest club in the world behind Spanish rivals Real Madrid and Barcelona, posted figured that show the club’s total revenue increased by £18.5m to £175m over the course of 2011.
The Old Trafford club’s debt dropped from £508m to £439m while match day, media and commercial revenue all increased and the club now has a fairly healthy bank balance of £50.9m.
The increased revenue figures are impressive considering a rise in operating costs from £96.9m to £110.8m and a dramatically increased expenditure on playing staff after the signings of David de Gea, Ashley Young and Phil Jones.
Regardless of the nation wide economic downturn, in the North West at least, finances are looking far rosier from football's point of view.
Manchester City posted superior revenue figures to their bitter rivals which puts in to light the upside to football ownership just days after Rangers and Portsmouth both entered administration.
Both Manchester club will have to err on the side of caution over the next six months after dropping down to the Europa League – a competition that will have far lesser financial benefit than the ultimate glory of the Champions League.