LONDON - Manchester United posted sliding quarterly profits Thursday as the team paid the price for failing to qualify for the lucrative UEFA Champions League. Missing out on the UEFA Champions League has dented Manchester United's profitsOperating profit dived one third to pound sterling6.2 million (7.2 million euros, $7.7 million) in three months to September 30, or the first quarter of the club's 2016/2017 financial year. That compared with pound sterling9.5 million in the same period a year earlier, the group said in a results statement. "Our financial results for this quarter reflect the impact of our non-participation in the UEFA Champions League," said executive vice chairman Ed Woodward. United failed to qualify for the Champions League with their fifth place finish in the Premier League last season.

Source: Bangkok Post November 17, 2016 13:41 UTC