Man Utd Cuts Financial Forecast After Early Champions League Exit

Football - Champions League - Group A - Manchester United v Bayern Munich - Old Trafford, Manchester, Britain - December 12, 2023 General view of a corner flag inside the stadium before the match. (Reuters)
Football - Champions League - Group A - Manchester United v Bayern Munich - Old Trafford, Manchester, Britain - December 12, 2023 General view of a corner flag inside the stadium before the match. (Reuters)
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Man Utd Cuts Financial Forecast After Early Champions League Exit

Football - Champions League - Group A - Manchester United v Bayern Munich - Old Trafford, Manchester, Britain - December 12, 2023 General view of a corner flag inside the stadium before the match. (Reuters)
Football - Champions League - Group A - Manchester United v Bayern Munich - Old Trafford, Manchester, Britain - December 12, 2023 General view of a corner flag inside the stadium before the match. (Reuters)

Manchester United lowered its full-year revenue and profit forecasts on Wednesday, after the English Premier League club was knocked out of this season's European Champions League football tournament.

The cut comes as a blow to British billionaire Jim Ratcliffe, who struck a long-awaited deal last month to buy a 25% stake in the club to try to revive its fortunes.

The English club reported a smaller net loss of 25.8 million pounds ($32.7 million) for the first quarter ended Sept. 30, compared with 26.5 million pounds a year earlier.

The 20-times English champions now expects full-year revenue of 635-665 million pounds, less from its previous forecast of 650-680 million pounds.

It expects adjusted core profit of 125-150 million pounds, compared with 140-165 million pounds earlier.



Workers Take Down Olympic Rings from Eiffel Tower – for Now

Tourists sit on the Olympic rings displayed in front of the Eiffel Tower in Paris, on September 27, 2024. (Photo by Thomas SAMSON / AFP)
Tourists sit on the Olympic rings displayed in front of the Eiffel Tower in Paris, on September 27, 2024. (Photo by Thomas SAMSON / AFP)
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Workers Take Down Olympic Rings from Eiffel Tower – for Now

Tourists sit on the Olympic rings displayed in front of the Eiffel Tower in Paris, on September 27, 2024. (Photo by Thomas SAMSON / AFP)
Tourists sit on the Olympic rings displayed in front of the Eiffel Tower in Paris, on September 27, 2024. (Photo by Thomas SAMSON / AFP)

Workers removed the Olympics logo from the Eiffel Tower in the early hours of Friday, returning the beloved monument to its familiar form -- but perhaps only temporarily.

Paris Mayor Anne Hidalgo has promised to build new Olympic rings and return them to the landmark as a tribute to the hugely successful Olympic Games held in the capital during July and August.

The proposal has polarized opinion in the French capital and has been criticized by descendants of the tower's designer Gustave Eiffel, as well as conservation groups.

After initially suggesting the new rings should be permanent, Hidalgo has proposed they remain on the city's world-renowned symbol until the next Olympics in Los Angeles in 2028.

Workers operating multiple large cranes removed the 30-tonne steel rings from between the first and second floors of the tower during the early hours of Friday morning.

They were first installed just under four months ago, on June 7, and will now be melted down and recycled.

The new rings, which the International Olympic Committee is expected to pay for, would be lighter versions of the originals and less prominent, according to a deputy Paris mayor, Pierre Rabadan.

"In my opinion, it would be better to put them somewhere else because it's a Parisian monument and it's not right that it becomes an advertising medium for an event that is now over," Hugo Staub, a French tourist at the tower on Friday, told AFP.

Culture Minister Rachida Dati, a longtime critic and opponent of Hidalgo, has also cast doubt over the idea, saying the mayor's proposal would need to respect procedures protecting historic buildings.

But others felt regret at losing a visual reminder of an enchanted period in Paris and expressed support for the idea of replacements.

"They were a bit large so it's better to put small ones that can remain for a few years," said Gabriel, a French volunteer at the Games, who was at the foot of the tower on Friday. "It would be symbolic and a great souvenir."