October 18 – Manchester United have reported record revenue of £666.5m million for the year to 30 June 2025, an increase of £4.7 million from the £661.8 posted in 2024. During a time of management change off and on pitch, the club reported a reduced operating loss for the year of £18.4 million, compared to an operating loss of £69.3 million in 2024.
Such is the power of Manchester United’s commercial machine, it is one of the few of the biggest clubs in Europe that can continue to report record revenues while under-performing, by its standards, on the pitch. Unlike many if its top tier rivals, Man Utd’s financial health is not totally dependent on winning, or nearly winning, the sport’s biggest prizes.
Although Man Utd reached the Europa League final, the club finished 15th in the Premier League and will miss out on the revenues of UEFA competition in the current financial year. That will have impact on the current financial year ending June 2026 which management is predicting will see revenues of £640 – 660 million and earnings before interest, tax and other deductions of £180-200 million.
Man Utd’s losses have been reduced as part of what it calls “a transformation plan, put in place to enhance operationalefficiency”. The benefit of this financially will be seen 2026.
The transformation plan saw £36.6 million paid out in exceptional items which included the removal of manager Erik ten Hag and his staff, plus severance payments due to about 200 employees in the latest round of redundancies.
A further exceptional item was the cost of completing the deal with Sir Jim Ratcliffe’s Ineos Group. “A cost of £47.8 million, primarily comprising costs related to the transaction with Trawlers Limited (later INEOS Limited) including fees payable on completion and compensation for loss of office.”
The club also invested £50 million in the upgrading of its Carrington Training complex, while the plan for a new stadium is very much on-going with CEO Omar Berrada saying that “planning continues to meet our ambition of developing a new stadium at Old Trafford as part of a transformational regeneration of the surrounding community.”
“As we settle into the 2025/26 season, we are working hard to improve the club in all areas. On the field, we are pleasedwith the additions we have made to our men’s and women’s first team squads over the summer, as we build for the long-term. Off the field, we are emerging from a period of structural and leadership change with a refreshed, streamlined organisation equipped to deliver on our sporting and commercial objectives,” said Berrada.
“To have generated record revenues during such a challenging year for the club demonstrates the resilience which is a hallmark of Manchester United. Our commercial business remains strong as we continue to deliver appealing products and experiences for our fans, and best-in-class value to our partners.”
Berrada emphasises the point that improved financial performance “will, in turn, support our overriding priority: success on the pitch.” Manchester United fans have shown patience, to a large degree, but there is a hunger for significant silverware, a hunger they feel has not been matched in the playing department.
There is no question of appetite in the commercial department, either in the performance or with those who want to come to the Man Utd banquet.
Sponsorship revenue grew to £188.4 million, an increase of £10.6 million attributed primarily to the 2024/25 season beingthe first with new front of shirt partner, Qualcomm, via their Snapdragon brand.
Retail, Merchandising, Apparel & Product Licensing revenue grew £19.8 million to £144.9 million, boosted by the launchof a new e-commerce model in partnership with Scayle.
Matchday revenue was £160.3 million, an increase of £23.2 million, due to the men’s first team playing five more home matches than the previous year.
The biggest hit for the club was a year-on-year £48.9 million decrease in broadcasting revenue. This was primarily due to participation in the Europa League rather than the Champions League in the prior year, and finishing 15h in the Premier League in the current year, compared to finishing 8th in the Premier League in the prior year. The Premier League broadcast payments were worth £156 million in the 2024/25 season, against £136 million for last.
Total operating expenses for the year were £733.6 million, down by £34.9 million, with player wages being the biggest reduction. “Employee benefit expenses for the year were £313.2 million, a decrease of £51.5 million, or 14.1%, over the prior year,” said the club.
If the players want to earn more then they will have to start winning games and titles.
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