Manchester United swings into red as European competition absence hits revenue

FILE PHOTO: Football Soccer - Manchester United visit the Friends Arena ahead of the the Europa League Final - Friends Arena, Stockholm, Sweden - 23/5/17 General view of the Manchester United logo ahead of the Europa League final Reuters / Phil Noble Livepic/ File Photo

Dec 11 (Reuters) - Manchester United swung to a first-quarter net loss on Thursday, weighed by lower broadcasting revenue and ticket sales as the club sits out European competitions this season.

The Old Trafford club posted a net loss of 6.6 million pounds ($8.83 million) for the quarter ended September 30, compared with a profit of 1.4 million pounds a year ago. Total revenue for the quarter fell 2%, with player and staff wages falling 8.2% due to job cuts.