London, Feb 13 : English and European champions Manchester United is all set to become the first Premier League club to cross the annual turnover of 300 million pounds. A British daily reported Thursday that the club is going to declare its last season's financial report next month and the figures are likely to reveal a 20 percent rise in the turnover.
A British daily reported Thursday that the club is going to declare its last season's The report also said that the club's turnover for the 2008-09 season is going to be 257.1 million pounds and when profits from their licensing agreement with Nike are added it will take the gross figure above 300 million pound.
The 13-year deal with the American sportswear manufacturer assures the English club a guaranteed annual fee of about 23 million pound as well as a share of revenue over an agreed level. In the 2007-08 season the club had a turnover of 245 million pound.
The leap in turnover is being attributed to United's success in winning both the Champions League and Premier League in 2008 and the new domestic television deal, which was brought last year for just under 50 million pound.
But in Europe, United will still remain the second richest club after Spanish giants Real Madrid.
Among other English clubs, Chelsea, Liverpool and Manchester City have all showing increases in revenue European list released by Deloitte.
Chelsea's annual revenue of 212.9 million pounds takes them to the fifth spot behind Barcelona at third place with 244.4 million pounds and Bayern Munich fourth with 233.8 million pounds.
Arsenal is at the sixth place with 209.3 million pounds while Liverpool lie seventh with turnover of 167 million pounds.