Manchester United have announced a £9.8m drop in revenue compared to the first quarter of the last financial year.

The Premier League club's total revenue is down 9.9% to £88.7m, which is a reflection of the lack of Champions League football at Old Trafford this season.

United's broadcasting revenue is down 13% to £16.8m, while their match-day revenue has dropped 21.8% to £15.1m.

The Red Devils have also seen their commercial revenue affected, with figures down 5.2% to £56.8m. Meanwhile, the club's gross debt is up to £362.2m from £361m.

United expect their year-end revenue to be around £40m lower than last year's figure of £433m.

Chief executive Ed Woodward said in an official statement: "While we recognize that the 2014-15 fiscal year financial results will reflect our absence from the Champions League, we signed the largest kit sponsorship deal in the history of sport in the first quarter and are excited to focus our efforts on the meaningful growth opportunities in sponsorship, digital media and retail and merchandising."

United continue their Premier League campaign on Saturday night when they travel to Arsenal.