Photo by Valery HACHE / AFP via Getty Images
Photo by Valery HACHE / AFP via Getty Images
Manchester United have released their full financial accounts for the 2025/26 season and it has finance expert Kieran Maguire bullish about what is on the horizon.
Michael Carrick salvaged Manchester United’s 2025/26 season by taking charge from Ruben Amorim and leading the club to a third-place finish in the Premier League.
United are back in the Champions League as a result, ending a three-year absence from the competition. It is public knowledge that Ineos want to increase revenue to £800m at Old Trafford, and the latest accounts suggest they are well on their way to achieving that goal.
The full accounts for the financial year ending at 30 June, 2026 have been released, with United reporting record revenues of £677.6m. Up from the record revenue of £667m in 2024/25.
Kieran Maguire reacts to Man United’s financial accounts
Football finance expert Kieran Maguire was quick on the scene to analyse United’s financial health and make a bold prediction about what it means for the club this year.
Speaking exclusively to United in Focus, Maguire predicted: “Manchester United potentially could hit revenues in excess of 750 million pounds in 2026/27.
“They managed to maintain revenues in 2025/26 because of the improvement in league position. Going from 15th to 3rd was worth £35 million.
“Yes, there were fewer games at Old Trafford in terms of matchday income, but that was offset to a certain extent by Ineos charging fans a hell of a lot more money to attend matches.
“So therefore, that was okay. Commercial income was down because they weren’t in Europe, but that should bounce back in 2026/27.
“So certainly record revenues [in 26/27]. The wage bill will be up because most of the players have clauses in contracts, which will increase remuneration rewards by 25%, that’s fairly standard in the United contracts, but the additional revenues will more than cover those costs.
“So yes, the money coming in is good, but the interest costs since the Glazer takeover now exceeds £1billion.
“That’s an ongoing very sensitive issue. The levels of debt are at record levels as well. That is a cause for concern because for every £1million spent on rewarding bankers, that is £1million which isn’t going to infrastructure, isn’t going into training facilities, isn’t going into sports science, and isn’t going into the first team.”
A breakdown of Man United’s 2025/26 financial results
Overall, while United generated record revenue, the club suffered a pre-tax loss of £43m throughout the year.
Here is a general breakdown of the accounts:
Total revenue: £677m (up 1%)
Wage bill: £302m (down 4%)
Wage to Revenue ratio: 45% (down 2%)
Operating profit: £22m
Loan Interest: £70m (up 228%)
Gross debt: £689m (up 8%)
READ MORE: Ineos view Man United fans as an ‘irritation’ amid Old Trafford protests, argues Kieran Maguire
It is clear to see why Maguire is concerned about United’s debt, which continues to grow year on year since the Glazer takeover.
Interestingly, United are well under Uefa’s recommended figures for the wage-to-revenue ratio, which should put the club in a strong position to spend under the squad cost ratio rules.