Manchester United set to announce reduced profits following Champions League elimination last season It is also expected to show that wages have risen by around 10 per cent compared to 2011, but that commercial deals, such with training kit partner DHL, have also risen by as much as 13 per cent to £117m, softening the blow of the fall in broadcast income and prize money from European football. The results come against the background of pressure on the price of the shares - totalling 10 per cent of the club - sold on the New York Stock Exchange last month. The Glazers had valued the shares at between 16 and 20 US dollars, but they were sold for 14 dollars and now the price has dropped to 12 dollars. The absence of Champions League income from the knockout stages cost United £14m in income from UEFA compared to the previous season. There also a £10million fall in matchday income due to four fewer home matches taking place. Even so, United should still be comfortably in third place in the table of the world's biggest-earning clubs behind Real Madrid and Barcelona. Madrid's revenues for the 2011-12 financial year were 514m euros (£415m), a 7 per cent rise, while Barcelona's of 494.9m euros (£399m) represent a 4.5 per cent increase. When United issued their third-quarterly report for the nine months ending March 31, the 9.9 per cent wage increase was put down to new players and new contracts. The quarterly financial report stated: "This increase largely relates to growth in player remuneration, driven by new player acquisitions and further contractual negotiations together with increased costs and headcount arising from the continued growth in our sponsorship and commercial operations."