Manchester United's income fell by 3.3 percent to £320.3 million (€401.9m-$519.8m) for the year ending June 30, mainly due to the team's failure to emerge from the group stage of last season's Champions League and a disappointing FA Cup challenge, which ended in the fourth round and resulted in reduced broadcast and match-day income. However, that was countered by an increase in sponsorship and commercial deals. Commercial revenues grew by 13.7 percent to a record £117.6 million (€147.6m-$190.8m). The team also signed a new shirt sponsorship deal with General Motors for Chevrolet that will take effect next year. Manchester United signed world-class players Robin van Persie and Shinji Kagawa over the summer and expects a substantial increase in the value of the Premier League's international television contracts, to be announced later this year. It has also opened a new commercial sales office in Hong Kong, its first outside the U.K., in a region representing about half of its followers worldwide.

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