Manchester United have reported a record annual revenue of €537.9 million for 2013/14.

The club made a €29.7 million profit. However that is down 84 per cent on last year.

The figures show United paid out €6.5 million in compensation to sacked manager David Moyes and some members of his coaching team following his dismissal in April.

However, the figures do not include any financial losses incurred from failing to qualify for European competition this season.

The club expect revenue to fall to about €480 - €490 million for 2015 due to the absence of Champions League football.