Im saying nowt ; - ) [SPO] [RNP] [DNP] [PGS] [EMK] [SOCC] [GB] [WEU] [EUROPE] [LEN] [RTRS]

(Writes through with Chief Executive comments) By Philippa Moreton LONDON, Oct 1 (Reuters) - Annual profits at Manchester United slid by 25 percent, hit by soaring players' salaries and the English champions' controversial decision to opt out of last season's FA Cup. The world's richest soccer club reported on Monday that pre-tax profits fell to 16.8 million pounds ($24.73 million) in the year to July 31 from 22.4 million last year. United, whose captain Roy Keane became the country's highest-paid player earlier this year, said operating expenses increased to 65.8 million pounds from 54.4 million pounds. Gate receipts were lower at 36.6 million pounds due to five fewer home games in the period, reflecting its withdrawal from the FA Cup in order to play in the inaugural World Club Championship in Brazil. Four new players were added to the squad during the financial year, including French international goalkeeper Fabien Barthez, who cost 7.8 million poounds. Net transfer expenditure on players totalled 13.6 million pounds. Players' wages represented 39 percent of turnover, up from 33 percent last year, and United said wages could ratchet even higher if the European Commission carried out their threat to revamp the transfer system in Europe. Manchester United said it does not negotiate contracts during the season -- Keane was an exception -- but contracts for key players such as midfielder David Beckham and winger Ryan Giggs come up for review next season. Chief Executive Peter Kenyon said the club, which suffered its first league defeat of the season on Sunday against Arsenal, aimed to balance rising wage costs through continued success on the pitch and through the success of its brand. The shares were trading up 3.3 percent or nine pence at 283-1/4p by 0900 GMT. NO MENTION OF NIKE DEAL United did not confirm a widely expected 300 million-pound kit deal with U.S. sportswear giant Nike but Kenyon told reporters an announcement would be made in due course. "If we had something to say we would have said it," he said. Manchester United confirmed last Friday it was in talks with a leading sportswear company, after reports said the reigning premiership champions were close to signing the deal. Media reports have said the deal, which would come into effect after current suppliers Umbro's contract expires in 2002, would run for 15 years. Smith said the challenge by the European Commission to the payment of transfer fees could have a significant impact on the shape of football finances, but until the outcome was clear he could not form a judgment on the impact on the club itself. Uncertainty surrounding the future of the transfer system has caused the shares to plummet in recent months. At its current price the stock remains 30 percent lower than the stock's peak of over 400p in March, when United became the first billion pound football club. Boosted by participation in the European Champions' League, the club received television income of 30.5 million pounds, and merchandising and other turnover rose to 23.6 million. ($1=.6794 Pound)

-- Anonymous, October 02, 2000

Answers

Surely NOT the club that has spent 1.5 Million net on new playes this year players, built TWO new stands and a 14M training complex :-)

Deffo stormy watres ahead ;-)

-- Anonymous, October 02, 2000

especially if I can't spell:-)

-- Anonymous, October 02, 2000

LR,
You say 1.5M net and the report says "Net transfer expenditure on players totalled 13.6 million pounds"
Who pocketted the extra 12M? .... and can I have some?

-- Anonymous, October 02, 2000

I was gonna say the report's wrong...but then I remembered Tiabi and Bosnich...so after shelling out for Barthez also that probably does come to that figure. That's not too bad..except we got 2 shit keepers out of it.

Anyway...profit down is better than no profit at all I suppose.

-- Anonymous, October 02, 2000

Very humble today Andrew, hope you're not down in the dumps?

The Ar$e have taken away our record as being the last team to beat 'Heath in the league.

:-(

-- Anonymous, October 02, 2000

Surprised to see you today LR, I assumed you would be comparing and contrasting the relative strengths of Taibi and Westerveld with Dancing Dave. How are they taking it? Bob still confident of winning the league is he? :-)

-- Anonymous, October 02, 2000

I'm always humble....it's just that you lot don't notice it from down where you are :-)

-- Anonymous, October 02, 2000

Softie......Dave and Bob have buggered of to another site that Des has started and not invited Sam or me...so I can't take the piss. I was dying to have a go at them today especially after their piss taking of OUR keepers...which was warranted mind :-)

Talking of Smalltime..at Euston last night after missing me train North after the game I witnessed HUNDREDS of Chelsea fans getting the Thomas OUT OF London!!!..Just thought I'd mention it :-) How's sleep?

-- Anonymous, October 02, 2000

I can confirm LR's story of plastic chewsea fans....i got into Kings Cross at 7pm last night when returning from Newcastle...only to see dozens of them waiting for trains heading north.....

Mind you I suppose they could be cockneys just working away from home...

-- Anonymous, October 02, 2000

Maybe Gav...but I watched for a full hour......I'mNOT joking when I say hundreds!! :-)

-- Anonymous, October 02, 2000

Best Chewsee fans were the couple we met down Gal and Yelli's end of the country.

Tattoos, flags, mullets and talk, but not a game of football between 'em.

-- Anonymous, October 02, 2000

Bobby....Gal and Yelli's end of the country.....that'd be Bumblef*ck would it? ;))

-- Anonymous, October 02, 2000

Ah, did I hear mention of my humble hometown?!? (;o)

-- Anonymous, October 02, 2000

Interesting article in one of the papers about the possibility of Man United's support being exhausted now. Based on the fact that they are taking time to shift the new seats for home games. Whether it's true or not, I know not.

-- Anonymous, October 02, 2000

Sleep, LR, what's that? Distant memory :-(

It's all worth it though, because on Friday I was singing to him and he broke out into a wonderful gummy smile. Every parent will know what an amazing experience that is, and needless to say I've spent every minute since standing on my head, waggling my eyebrows and gurning like a loon making him do it again. He's even started chuckling when you tickle him :-)

I am also happy to report that when you change his nappy now he takes the opportunity to have a good root about with his hand. Yes girls, next time you ask your fella why you can't just talk, it's because at age 4 weeks, a chap is already interested in scratching that particular itch and has no intention of talking for several months yet. It's genetic. May as well complain about us growing whiskers (except Solskjaer of course - although he's definitely a wanker) ;-)

-- Anonymous, October 02, 2000

LR, what have Man United done to annoy the press? What with the Alison Ryan story, Martin Edwards stuff, all the Bosnich-Yorke arguments with Fergie, and now Ferguson is losing the plot according to the Mail: all is going to implode at Old Trafford. What have the media dralings done to deserve this?

-- Anonymous, October 03, 2000