Manchester United reports record loss despite revenue rise

LONDON: Manchester United has reported a record overall loss of 83.6 million pounds ($132 million) last season despite operating profits exceeding 100 million pounds for the first time.

The Premier League giant's record losses are a big swing from the 25.5 million-pound profit from the previous financial year, which came after the sale of Cristiano Ronaldo to Real Madrid for a world record 80 million pounds.

Matches were played last season against the backdrop of mounting protests against the club's American owners, the Glazer family, as heavily-indebted United missed out on a fourth straight league title.

United did show the strength of its global commercial operations in the year up to June 30 by reporting a record turnover of 286.4 million pounds.