LONDON, Oct 27, 2023 (BSS/AFP) - Manchester United on Thursday reported a Premier League record revenue figure of o648.4 million ($784 million) for the year ending June 30, 2023.

It is 11 percent up on the preceding year and beats the previous record of o627 million set by United in 2019, but the 20-time English champions still reported a loss of o42.1 million.

The record earnings come despite the fact United played in the Europa League, rather than the more lucrative Champions League, last season.

During the 2022/23 campaign the men's team finished third in the Premier League and won the League Cup, ending a six-year trophy drought.

The women's team finished second in the Women's Super League and were runners-up in the FA Cup.

The club have predicted revenue for the 2023/24 period will be between o650 million and o680 million.

United's wage bill for 2022/23 was down o52.8 million to o331.4 million, which the club attributed to "squad turnover" and their absence from last season's Champions League.

The club reported long-term debt at o507.3 million. The figure was given as $650 million in the accounts, unchanged from the previous year, but the report said the year-on-year change in the exchange rate meant the figure in sterling was a lower amount this year compared with last.

The report confirmed no dividends had been paid to the Glazer family, who own the club.

Thursday's fiscal results come at a time when the founder of the INEOS chemicals company, British billionaire Jim Ratcliffe, is reported to be close to securing a stake in the club.

The Glazers announced last November they had commissioned work to look at "strategic alternatives" to help the club grow, which included consideration of a sale.

It now appears the Americans will remain in control, with Ratcliffe reported to be taking a 25 percent stake and gaining control over football operations.

The Old Trafford club were fourth in this year's Deloitte Money List, behind Manchester City, Real Madrid and Liverpool.

The men's team, who have not won the Premier League since 2013, are currently eighth in the table ahead of their clash against champions City on Sunday.