Manchester United are braced for a revenue drop of up to £67 million this season as the club starts to feel the pinch of their failure to qualify for the Champions League.

United released their first-quarter results for this season on Tuesday and are forecasting revenues of between £560m and £580m, a significant fall on the club’s £627.1m turnover for 2018/19.

Although wages for the three months to Sept 30 fell by 8.8 per cent owing to the club’s non-participation in the Champions League, a £9.9m drop in broadcast income offered a first glimpse of the financial impact of not playing in Europe’s premier club competition.

United’s second-quarter accounts, by which time the Champions League group stages will have been completed, will offer a fuller picture of the cost of missing out.

United have already secured their place in the Europa League knockout stages with two group games to spare and the competition offers a valuable alternative route back into the Champions League at a time when the team is currently nine points adrift of the Premier League’s top four.