Out of the Champions League and seemingly out of the Premier League title race, Manchester United at least finished their second quarter in the black with £18.6m profit, triggering a seven per cent share price pop in early trading on the New York Stock Exchange.
United's commercial strength helped the club record its highest ever second quarter revenues of £133.8m - a 26.6 per cent increase on last year.
Commercial revenue increased by £19.7m, or 42.5 per cent, to £66.1m in the three months to 31 December 2015 - primarily thanks to new sponsorship deals including their much-lauded kit record deal with Adidas.
The club's cash assets increased by over £84.5m in the year to £121.6m as staff costs as a proportion of future revenues were sliced from 46.1 per cent to 41.6 per cent.
United's overall profit for the period stood at £18.6m - a big turnaround from a £55,000 loss at the same stage last year.
Why it's interesting
Despite the spectre of failing to reach next season's Champions League - and an early exit from this year's campaign - hanging over the club, it has not adjusted its outlook for the year with a glut of commercial partners and a new Premier League broadcasting deal still assured.
For the full year, United still expect to become the first English club to break the half a billion mark.
What executive vice-chairman Ed Woodward said
Our strong commitment to investing in our squad, youth academy and the broader club are ultimately underpinned by our financial strength and the hard work and dedication of everyone at the Club.
Our solid results off the pitch help contribute to what remains our number one priority - success on the pitch.
If you didn't watch the football, you'd think everything was going swimmingly at United. Poor performances have not harmed the club's outlook for the year or significantly affected its bottom line (yet).