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Record profits for Manchester United
Manchester United has claimed top position in the sport's wealth league by reporting profits up to 42 per cent. In December it was rated the world's richest club, for the third yar running, in the Deloitte & Touche/4-4-2 survey. With 50 million fans worldwide and poised for its third successive English Premier League title, it has reported record pre-tax profits of £17.3m for the first six months of the season. The rise in profits was mainly due to gate receipts - up almost one third to £28.4m. The club credited partnerships with firms such as Nike, which has signed a £303m sponsorship and merchandising deal with the cllub. Chair, Professor Sir Roland Smith says the Nike alliance demonstrates Manchester United's strategy of ofrming partnerships with global leaders for mutual benefit: The benefit to Manchester United of these arrangements is that they allow us to fund our leaership position in our core activity of football while ensuring that we retain control of the Manchester United brand. Deals with Vodafone and Platinum Sponsors boosted sponsorship income by £2.3m to £11.1m. The club has also unveiled plans to expand its presence in the financial services market.
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