Manchester United: Have performed well financially despite poor results on the pitch
Despite a disastrous 2013/2014 season that saw United finish seventh and fail to qualify for European football for the first time since 1990, United have enjoyed a profitable year financially.
The man who oversaw their fall from the top of English football, David Moyes, was sacked in April - just 10 months into his tenure - and the financial figures reveal the club paid £5.2m to the Scot and members of his coaching team in compensation.
The figures do not reflect the financial damage incurred by United's failure to qualify for Europe.
United are hoping for a renaissance under new manager Louis van Gaal but have started the current campaign poorly, taking just two points from their opening three Premier League games and crashing out of the Capital One Cup with a humiliating 4-0 defeat at MK Dons.
United's executive vice-chairman Ed Woodward remains proud of the business side of the past 12 months and is in a positive frame of mind regarding the club's future.
He said: "We are very proud of the results achieved in fiscal year 2014 as we once again generated record revenues.
"With Louis van Gaal at the helm as manager, and the recent signing of some of the world's leading players to further strengthen our squad, we are very excited about the future and believe it's the start of a new chapter in the club's history.
"Louis' footballing philosophy fits very well with Manchester United and he has an impressive track record of success throughout his career, winning league titles with every club he has managed."
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