Manchester United on Thursday reported a Premier League record revenue figure of £648.4 million ($784 million) for the year ending June 30.

The figure is 11 percent up from the previous year and beats the previous league record set by United in 2019.

The record earnings come despite the fact United played in the Europa League, rather than the more lucrative Champions League, last season.

The club have also predicted revenue for the 2023/24 period would be between £650 million and £680 million.

The announcement comes at a time when the founder of the INEOS chemicals company, Jim Ratcliffe, is reported to be close to securing a 25 percent stake in the club.

During the 2022/23 season, the period covered by the latest results, Manchester United men's team finished third in the Premier League and won the League Cup.

The women's team finished second in the Women's Super League and were runners-up in the FA Cup.

The men's team, who have not won the Premier League since 2013, are currently eighth in the table ahead of their clash against champions Manchester City on Sunday.

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