Man United lowers their financial projection following an early Champions League exit

Following their elimination from the European Champions League this season, Manchester United, an English Premier League team, decreased their full-year revenue and profit projections on Wednesday.

The announcement is a setback for British billionaire Jim Ratcliffe, who last month finally closed a long-awaited agreement to purchase a quarter of the club in an attempt to turn around its financial situation.

Compared to £26.5 million a year earlier, the English club posted a reduced net loss for the first quarter that ended on September 30, coming in at £25.8 million.

Manchester United had previously predicted a full-year income of 650–680 million pounds, but now they foresee 635–665 million pounds.

As opposed to the previous range of 140–165 million pounds, it anticipates an adjusted core profit of £125–£150 million.

(Sources: investing.com reuters.com)