SPORT
18/09/2013 08:21 BST

Manchester United Announce Record Annual Revenue

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MANCHESTER, ENGLAND - MAY 12: The Manchester United players celebrate with the Premier League trophy following the Barclays Premier League match between Manchester United and Swansea City at Old Trafford on May 12, 2013 in Manchester, England. (Photo by Alex Livesey/Getty Images)

Manchester United's rapid commercial expansion is reflected in the club's latest annual results, as revenue rose to a staggering 29.7% to £152.5 million for the third quarter this year.

With new deals being announced on almost a weekly basis, the hike is unsurprising in an overall 13.4% increase in turnover to a club record of £363.2m

United's debt has fallen by 10.9% to £389.2m, however servicing the finance has come at a cost of £70.8m.

That figure equates to the cost of Mesut Özil and Marouane Fellaini's Premier League transfer fees after another unsatisfying United transfer window under the loathed owners, the Glazer family.

Wages have risen 11.6% to £180.5million, partly as a result of the club taking on more staff to work on its new digital operation, and an increase in matchday revenues of 10.5% to £109.1million was mainly due to Old Trafford being a host Olympic venue.

The club confirmed "exceptional items" costs of £6.2million were partly due to costs incurred with the flotation in New York, but also contracts of coaching staff - Mike Phelan, Rene Meulensteen and Eric Steele - being paid up following the summer departure of manager Sir Alex Ferguson.

Nevertheless, the figure increases the overall cost of the highly-leveraged takeover by the Glazers in 2005 which some supporters remain vehemently opposed to, even though both Ferguson and his successor David Moyes have spoken out in favour of United's American owners.