Manchester United Financials
Manchester United is forecasting revenue to hit $1 billion this season, as it returns to the Champions League. Real Madrid and FC Barcelona are the only soccer clubs to previously hit the mark.
Manchester United reported fourth-quarter financial results Wednesday, pushing full-year revenue to £678 million ($900 million at current exchange rates). Despite sitting out European tournament play, revenue was up 1.7% versus the 2024-25 season—a record result for the Premier League club.
“While these results confirm that we are on the right trajectory, we will continue to take a disciplined approach to ensure our finances remain sustainable,” Omar Berrada, Manchester United CEO, said in a statement.
Man United expects to blow by that record this season, as it returns to the lucrative Champions League tournament that paid out $2.8 billion to last season’s 36 participants. The club forecasts revenue of £740 million to £760 million for the 2026-27 season, or at least $1 billion if the British Pound doesn’t decline versus the U.S. dollar, and if the team doesn’t plummet down the EPL standings.
LaLiga giants Real Madrid and FC Barcelona are the only soccer clubs to have previously eclipsed $1 billion in revenue. In U.S. sports, the Dallas Cowboys and Los Angeles Dodgers are the only teams to generate more than $1 billion in revenue in a season.
Manchester United is not content with that revenue. It’s planning a new 100,000-person stadium to replace Old Trafford and secured the land for the venue in June.
Commercial revenue for the year was $422 million, down 4.8% from the prior season. Retail and merchandise revenue rose 8.2%, while the segment’s other component, sponsorships, fell 14.8%, primarily due to the club’s training kit sponsorship with Tezos ending before the start of the season. This summer**,** Betway signed a deal to be Man United’s new training kit partner.
Broadcasting revenue surged 19.6% to $275 million, spurred by the men’s team finishing third in the Premier League, versus 15th in the prior year. The gain was offset by not participating in UEFA competition, compared to reaching the UEFA Europa League final the prior season.
Matchday revenue declined 4.2% to $204 million, as the club played 10 fewer matches due to its absence from European competitions.
The team’s cost-cutting measures, which included more than 400 layoffs, helped the club post a $30 million operating profit, versus a loss of $24 million in the year prior. Employee expenses as a percentage of revenue was 44.6%, compared to 47% for 2024-25. United still lost $57 million when accounting for financing costs, marking the seventh straight year posting a net loss. Non-current borrowings rose $125 million during the year to $775 million.
Man United’s stock is up 29% year-to-date. Earlier in the year, London-based Boldhaven Management amassed 3.1 million shares, or 5.6% of the Class A stock for the EPL club, according to an SEC filing. The transaction made Boldhaven the second-largest institutional holder of Man United shares after Ariel Investments, whose latest filings show 9.3 million shares as of June 30.
Boldhaven was founded in 2017 by Ronald Sofer, who serves as the firm’s chief investment officer, and it bills itself as an alternative investment management firm “defined by fundamental research, a long-term investment horizon and a focus on intrinsic value,” according to its website.
Man United has struggled early in this EPL season, sitting 12th in the 20-team table after securing one win and a pair of draws during its first five matches. It ranked third in Sportico‘s soccer team valuations, behind Real Madrid and Barcelona.