New £750m adidas kit deal will boost coffers and Premier League's £5.14billion TV deal in 2016-17 will provide even more earnings

Manchester United are expecting to make the biggest profit in the club's history next year, but have also revealed the cost of David Moyes's season of failure was an eye-watering £35million.

The club say they anticipate revenues of circa £500million in 2015-16 thanks mainly to their world record £750m kit deal with adidas and renewed presence in the Champions League after a year's absence, which was due to Moyes's inability to finish in the Premier League's top four.

Such income would be close to the current world record, held by Real Madrid, who brought in £513.7m (based on current exchange rates) in 2013-14.

Manchester United are expected to announce they'll make the biggest profit in the club's history next year

The huge sum is boosted by the new adidas kit agreement - the biggest kit deal in football history at £750m

United boss Louis van Gaal is sure to be excited by the news about his club's forecasted profits

The prediction is in United's annual financial report for the year ending June 30, 2015, which was released at noon on Thursday.

The figures show that the club brought in revenues of £395.2m and made a loss of £1.2m.

That is down on 2013-14, when they recorded a club-record revenue of £433.2m and a £23.9m profit, which is due in the most part to a lack of broadcast money and gate receipts after missing out on the Champions League.

The cost of missing out on European football's premier club competition for just one year was around £35m.

United brought in £45.6m less from matchday and broadcasting revenue, however this was slightly offset by an £11.8m drop in staff costs, which was due largely to a lack of Champions League incentive payments.

However, executive vice chairman Ed Woodward has forecast a spectacular 2015/16.

'As we look to the new season, we are enthusiastic about our strong position, both on and off the pitch,' he said.

'In recent weeks we have further strengthened our squad with an exciting mix of experience and youth, qualified for the group stage of the UEFA Champions League, and seen an impressive launch of our partnership with adidas.

Chief executive Ed Woodward (left) is predicting a spectacular 2015/16 financial year for the club

United recently splashed out £58m on Anthony Martial, but even more big-money buys could arrive soon

Despite doubts over management, fans will be delighted to know the club are making record breaking profit

'Our record revenue and EBITDA (earnings before interest, taxes, depreciation, and amortisation) guidance for 2016 reflects the underlying strength of our business and our confidence in its continued growth.'

Adidas took over from Nike in August after signing a 10-year agreement with United - the biggest kit deal in history.

United's figures for 2014-15 Revenue: £395.2m (down from £433.2m) Profit: -£1.2m (down from £23.9m) Forecast revenue for 2015-16: £500m to £510m Debt: £341.8m (down from £411m) Commercial revenue: £196.9m (up from £189.3m) Broadcasting revenue: £107.7m (down from £135.8m) Matchday revenue: £90.6m (down from £108.1m) Advertisement

The agreement with the Germans, which Nike declined to match, is seen as an astonishing coup for the club and is two-and-a half times the size of those held by Arsenal and Chelsea.

The forecast will be good news for manager Louis van Gaal who, since his arrival in the summer of 2014, has spent close to £300m on new players.

And it should get even better when the Premier League's new £5.14billion TV deal kicks in in 2016-17.

When that broadcasting deal was announced in February, shares in United jumped by five per cent on the New York Stock Exchange.

United also announced they will raise another $400m by selling new shares.

The move was announced in a filing to the US Securities and Exchange Commission saying that the club will make 24m Class A shares available.

David Moyes' failure to reach the Champions League cost the club a massive £35m

United's historic gross debt from the Glazer family takeover in 2005, went up from £341.8m to £411m, which the club say is down to a strong dollar.

However, the net debt, which takes into account money in the bank, is down from £275.4m to £255.2m.

This is because United's cash reserves went up from £66.4m to £155.8m.

Commercial revenue went up from £189.3m to £196.9m which the club say was 'primarily due to the commencement of the seven-year General Motors shirt sponsorship and the activation of several new global and regional sponsorships.'

EW says season tickets sold out in record time. Now rattling through list of new commercial partners. #mufc — Mike Keegan (@MikeKeegan_DM) September 17, 2015

EW says new app and website on the way. #mufc — Mike Keegan (@MikeKeegan_DM) September 17, 2015

#mufc say 'players are something we will continue to invest in accordingly'. — Mike Keegan (@MikeKeegan_DM) September 17, 2015

United have had a mixed start to the season but beat rivals Liverpool in their last Premier League outing

The Red Devils are aiming to challenge Real Madrid's status as the world's most lucrative football club