Manchester United profits up

Manchester United plc have increased their pre-tax profits by 22 per cent to £39.3 million for the 12 months ended July 31st 2003.

United’s successes on the pitch combined with the sales of David Beckham and Juan Sebastien Veron have boosted their financial position.

New chief executive David Gill said to Sky Sports: “These results reflect the significant success that Manchester United has achieved on and off the field.

“We will maintain our focus on achieving playing success while delivering strong performances from commercial operations.”

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Meanwhile, United have also revealed that they are in negotiations with Sir Alex Ferguson over extending his contract at the club.

Ferguson signed a three-year contract deal in 2002 after changing his mind about retiring and United are keen to extend the deal.

Gill continued: “We would like Sir Alex to continue and Sir Alex would like to continue so we are holding discussions.”