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Manchester United's revenues slumped by almost 20% as expected in the three months to 31 December, as the club reaffirmed that total income could drop by almost £70million this season.

Total revenues fell by 19.3%, or £40.2million, to £168.4million in United's financial second quarter, with broadcasting revenues plunging by almost two-fifths to £64.7million on the back of playing in the much less lucrative Europa League.

United had braced for a sharp drop in income in the club's second quarter, given that UEFA broadcasting revenues are recognised evenly over the course of the competition’s group stages and five of the six group stage matches were contested by the club.

Meanwhile, playing two fewer home games across the Premier League and Champions League during the period shaved more than £6million off United's matchday income, which was £33.1million.

Offsetting these dips was a boost in commercial income - United's largest revenue stream during the quarter following the broadcast slump - which rose by 7% to £70.6million following a £5million surge in sponsorship deals.

Having kicked off a strategic partnership with China's Alibaba, United recently signed commercial terms with confectionery giant Mondelez to underscore their continued commercial appeal across the globe.

Helping United's bottom line somewhat, the club's wage bill for the quarter was £7million lower year-on-year at £70.9million - a reduction of 9% - due to the lack of Champions League bonuses.

Yet the lower revenues cut ultimately the club's earnings before interest and tax in the quarter - even with last year's respective figure including the negative one-off impact of the £19.6million paid to Jose Mourinho and his staff following his exit in December 2018.

United's profit before finance-related income and costs and tax for the quarter declined by 17%, or £7.5million, to £36.5million.

Furthermore, United's cash pile reduced by more than £39million to £101million, again on the back of participating in the Europa League and cash paid out on players and assets.

As spelled out last year, United expect revenues of between £560million and £580million this season - a sharp drop from the £627million reported in 2018/19 as United play in the Europa League for the third time in five seasons.

Much will depend on the club's performances across domestic and European competition, though expenses will of course shoot up should Champions League bonuses and contingency payments activate.

United's latest set of accounts underline the importance of returning to the Champions League for Ole Gunnar Solskjaer's team.

The Reds currently sit fifth in the table, three points off Chelsea in fourth, although the club oozed confidence and class in dismantling Watford in the league over the weekend.

Another avenue for returning to Europe's premier competition is repeating the feat of 2017 and winning the Europa League; United were unimpressive in their Round of 32 away trip to Club Brugge last week but have a crucial away goal ahead of Thursday's night second leg at Old Trafford.

United's expenses during the period naturally do not include the initial £47million spent on Bruno Fernandes, who has excelled so far and may well provide the push needed to secure a top-four finish.