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United's overall income down

Manchester United's total income for the year ending June 30 was down © PA Photos

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Manchester United's annual results for the year ending June 30 have revealed a 3.3% fall in total income to £320.3 million after the club's failure to reach the knockout stages of last season's Champions League.

United failed to progress from a group containing Otelul Galati, Basel and Benfica, with the setback leading to a decline in broadcast revenue - down 11.3% to £104 million - and matchday revenue, which was down 10.9% to £98.7 million.

An Old Trafford spokesman said: "Broadcasting revenues for the year decreased... primarily as a result of our elimination at the group stages of the Champions League.

"For the fourth quarter, revenues decreased 37.4% to £27.5 million as no participation fees were earned compared to Champions League participation fees from the quarter-final, semi-final and final in the fourth quarter of the prior year."

The spokesman also said United had earned "minimal revenues" from the FA Cup after being knocked out by Liverpool in the fourth round.

"Matchday revenues for the year decreased... as a result of having played four fewer home games, compared with the prior season when we also received a share of the gate receipts from the Champions League final and FA Cup semi-final, both of which were held at Wembley Stadium," the spokesman said.

But the accounts also revealed that, for the first time, revenue from commercial income exceeded that from broadcast and matchday revenue streams.

A United spokesman said the results were "consistent with what we expected" and added: "We strongly believe the outstanding results in the commercial sector demonstrate the huge potential the club has, and the financial outlook is very positive."

© ESPN Sports Media Ltd.