Broadcast and sponsorship deals have helped Manchester United achieve a record revenue of £98.5m in the first quarter.

Total revenue was up 29.1% with commercial revenue even higher, at 39.3% (£59.9m). This commercial revenue was driven by a 62.2% increase in sponsorship – a total of 12 international deals were signed in the first quarter. Broadcasting revenues were up 40.9% following the new Premier League television rights deals.

“We are pleased to have achieved another record first quarter, driven by the strength of our commercial business and increased broadcasting revenues. Our unique approach to the commercial business will continue to drive future growth,” said Ed Woodward, executive vice chairman.

“We are also excited by the continuing rise in the value of sports content, evidenced, amongst other things, by the recently announced BT deal for the UK rights to broadcast the Champions League and Europa League matches for three seasons from 2015/16. This deal represents a meaningful increase over the current arrangement, which should translate into higher broadcasting revenues for the participating clubs.”

A breakdown of the figures reveals that sponsorship revenue for the quarter was £45.2m, which is £17.4m up on the same period last year. This was mainly due to a “significant increase from the pre-season tour, higher renewals and the activation of new global and regional sponsorships.”

Mobile income has dropped by £1.8m due to a number of mobile partnerships ending.

The club earned a total of £19.3m in broadcasting revenue in the quarter, which is up £5.6m from 2012.