It’s been a rollercoaster year at Old Trafford. Manchester United has just announced the highest revenues in its history, yet the club still ended up making a loss of £18.4 million.
For fans and financial watchers, it’s another reminder of the strange mix of success and struggle currently shaping life at United.
Record Turnover Despite On-Field Struggles
United reported revenues of £666.5 million for the year ending in June.
That’s a record figure, but it comes in the same season where the club suffered its lowest-ever Premier League finish of 15th place.
It’s proof that while United’s brand power remains enormous, poor results on the pitch continue to take their toll.
Ineos Restructuring Cuts Costs
Just six months ago, Sir Jim Ratcliffe warned that United risked running out of money before the end of 2025.
His Ineos group has since implemented major restructuring plans, which included over 300 job cuts.
Those tough decisions have reduced costs and steadied the club’s finances, though not without criticism.
Transfers and Wages Shift the Balance
The figures don’t reflect the club’s huge summer transfer window spend of around £200 million, which brought in Matheus Cunha, Bryan Mbeumo, Benjamin Sesko, and Senne Lammens.
On the other hand, wages have dropped, partly because United missed out on the Champions League and also because several high earners departed.
With no European football this season, that trend will likely continue.
Comparing Losses Year to Year
Last year, United’s net loss was a staggering £113.2 million, meaning this year’s £18.4 million looks like a big improvement.
But debt remains a major shadow over the club, standing at around $650 million.
Thanks to the pound’s strength, the debt in sterling terms has fallen from £511 million to £471.9 million.
CEO Omar Berrada’s Optimism
United’s Chief Executive, Omar Berrada, has been quick to stress that the club is moving forward.
He pointed to the men’s and women’s squad reinforcements, investments in infrastructure such as the £50 million redevelopment of Carrington, and long-term plans to build a new stadium at Old Trafford as signs of progress.
He also praised the resilience of the club’s commercial side, with revenues boosted by new deals, including the Snapdragon shirt sponsorship.
Commercial Power Remains a Lifeline
Matchday income and commercial deals have both hit record levels, underscoring United’s enduring global appeal.
The club’s EBITDA – a key financial measure – stands at £182.5 million, the highest in Europe since the Covid pandemic.
Within the industry, that’s considered a strong sign of underlying financial health.
Looking Ahead
The message from United is clear: record revenues and tightened costs put the club in a stronger position for the future.
But the debt remains a heavy burden, and results on the pitch must improve if fans are to feel the same optimism.
For now, United’s financial story is one of resilience mixed with lingering uncertainty.