Manchester United slashes outlook after Champions League exit

Manchester United Plc (NYSE:MANU) on Wednesday slashed earnings guidance reflecting its exit from football's elite European competition and related reduction in Broadcasting revenue. The Red Devils finished bottom of their Uefa Champions League group, and are sitting outside of Champions League qualification places at present.  United said that it now expects revenue to range from £635 million to £665 million in the year to June 30, a drop from previous expectations of £650 million to £680 million. Guidance ...