MANCHESTER United have been declared the world's richest club once more.

Although Real Madrid laid claim to the honour for a couple of years, United officials believe their gross revenue of £245million in the year to June 2007 exceeds that of the Spanish giants by just 12 Euros if average conversion rates during the 12-month period in question are used.

While the argument may be viewed as semantic by some, it means a lot to the clubs involved at a time when the battle for hearts and minds of fans and sponsors across the world is gathering pace.

United's current fan-base has been estimated at 333 million, with chief executive David Gill believing the number of active supporters hovers around the 139 million mark - of whom 83 million are based in Asia.

It is little wonder the Old Trafford outfit have been able to post stunning profits of £59.6million for the 12 months to June 2007, a massive 93% rise on the previous year.

With revenue streams increasing in every area and more to come this year once the new, vastly-improved Premier League TV deal starts to take effect, United are in far healthier shape than anyone could have predicted before the Glazer family's involvement following the controversial takeover in 2005.

Gill is convinced if the takeover had never happened Sir Alex Ferguson would not have had the funds for his summer blitz - which saw the arrivals of Nani, Anderson, Owen Hargreaves and Carlos Tevez.

"I wouldn't disagree with the view that it would have been unimaginable to sign those four players if we had still been a plc," said Gill.

"There is a new structure in place now, and decisions can be made pretty quickly.

Requirment

"The family understand the requirement to have a successful team, playing in the Manchester United way, and they have backed the manager with funds."

Content in the knowledge the vast majority of supporters care only for what happens on the pitch, Gill has no intention of becoming drawn into a slanging match with the fans' groups who continue to attack every aspect of the Glazer regime - particularly the debt levels required to complete the deal.

Neither is he willing to compare the stability at United over the past two-and-a-half years with the turmoil at Chelsea - which saw Jose Mourinho depart as manager amid a huge outcry - the wranglings over ownership at Arsenal, which led to the exit of influential director David Dein, or the fall-out between manager Rafael Benitez and co-owners George Gillett and Tom Hicks at Liverpool.

Instead, he is happy to let the facts speak for themselves.

"There are some people who will never be persuaded that the takeover was a good thing, not even if we won 10 Champions Leagues in a row," he said.

"The Glazers are not in this for publicity or ego - but they have been true to their word.

"They said they would retain Sir Alex Ferguson and back him. They said they would keep me and other members of staff. They said they would invest in the team. They have done all that.

"They have also added value in other areas. The AIG shirt-sponsorship deal was a world record - that was down to them.

"The financial position of the club is not something that worries us. Clearly, the cash from these results will be used partially to service the debt and also to reinvest in players.

"The banks would not have leant money to the club if they did not feel there was a sensible structure in place, and there has never been any brake on funds."

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