Defender Valencia urges United to stay in hunt for Premier League title

Newcastle United's Spanish manager Rafael Benitez awaits kick off in the English Premier League football match between Manchester City and Newcastle United at the Etihad Stadium

Newcastle United's Spanish manager Rafael Benitez awaits kick off in the English Premier League football match between Manchester City and Newcastle United at the Etihad Stadium

"Our solid business model has allowed us to invest in the future of the club with the extension of Jose Mourinho's contract as manager and the acquisition of Alexis Sanchez", vice chairman Ed Woodward said.

Manchester United have announced revenue of £163.9 million and operating profit of £28.7 million for its 2018 second quarter financial results ending December 31.

He said the signing generated some striking social media statistics.

Analysis showed that the return to the Champions League thanks to their successful Europa League campaign was the main driver behind the increased broadcasting revenue, while the fact two additional United games were shown live on TV over the period also had an effect.

Manchester United blamed US President Donald Trump's corporate tax reforms as the reason the English Premier League (EPL) giants posted a £29 million ($40.4 million) second-quarter loss to the end of December 2017 despite a boom in broadcast income.

As a result of the change in U.S. federal corporate income tax rates from 35 per cent to 21 per cent, United had to allow for a non-cash tax accounting write-off of £48.8m.

English soccer club Manchester United said their core quarterly earnings dipped because of rising wages for their players after their return to the Champions League. The 20-time English champions previous year attributed a near 30 percent surge in debt to the collapse of the pound after Britain voted to leave the European Union in a 2016 referendum.

Another wave of TV cash could be around the corner with bids for a new three-year cycle for Premier League TV rights in the United Kingdom from 2019-2022 to be presented on Friday.

The Premier League are looking to build on the current record £5.14 billion three-year domestic television deal with Sky Sports and BT Sport, which runs until 2019.

However, salary expenses for the quarter came in 9.4 per cent higher at 69.9 million pounds on player salary uplifts due to participation in the UEFA Champions League.

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