Manchester United made a loss of £33m, taking cumulative losses to £391m in six years
Manchester United have reported a loss for the sixth consecutive year although their financial performance did improve in 2024-25 thanks to record revenue of £666.5m.
United made a net loss of £33m, taking the club’s total losses to £391m since 2019-20, although that was markedly down on the previous year’s £131m deficit.
Revenue grew by 0.7 per cent to a new high, half of which – £333.3m – came from United’s famously robust commercial operations.
It also came during a season in which Sir Jim Ratcliffe implemented savage cuts to staff head count and perks, although the full benefits are yet to be realised.
While cost-cutting reduced the wage bill by £51.5m, the cost of redundancies – including head coach Erik ten Hag and sporting director Dan Ashworth – were £36.6m.
“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 United CEO Omar 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.
“As we start to feel the benefits of our cost-reduction programme, there is significant potential for improved financial performance, which will, in turn, support our overriding priority: success on the pitch.”
Man Utd forecast fall in revenue for 25-26
United are, however, forecasting a slight reduction in revenue for the current year, after their worst ever Premier League season saw them fail to qualify for any European competition.
That on-field performance saw broadcast revenues fall 22 per cent, a drop attributed to finishing 15th in the table and their absence from the lucrative Champions League.
Matchday revenue was up, thanks to the club’s run to the Europa League final, while a new sponsorship deal with Snapdragon drove a 10 per cent increase in commercial income.
The club’s current borrowings increased from £35.6m to £165.1m, although non-current borrowings remained $650m, which converted to £471.9m – a £39m improvement due to exchange rate fluctuations.
United completed a £50m upgrade of their training ground on time and budget, said Berrada, who said “planning continues” for a proposed new stadium at Old Trafford.