Manchester United announced on Wednesday that the club suffered an annual net loss for the sixth straight year, even as revenues hit a record £666.5 million ($910 million). The figures highlight the financial paradox of one of football’s most lucrative brands struggling on the pitch.
Last season, United endured a turbulent campaign. The team missed out on Champions League qualification and slumped to 15th place in the Premier League, their lowest top-flight finish in 51 years. Although Ruben Amorim’s side reached the Europa League final, they fell short against Tottenham in Bilbao.
Financially, revenues edged up by 0.7 percent, reaching £666.5 million for the year ending June 30, 2025. Operating losses dropped significantly, shrinking from £69.3 million to £18.4 million. Overall losses also declined, falling from £113.2 million to £33 million. This improvement followed cost-cutting initiatives led by co-owner Sir Jim Ratcliffe, which included staff reductions and restructuring.
Chief executive Omar Berrada emphasized that the club is starting to benefit from these measures. He stated United is now positioned for long-term growth both on and off the field. Berrada highlighted summer squad reinforcements and a streamlined organizational structure as key steps forward.
Commercial performance remained a major driver, with the new Snapdragon shirt sponsorship fueling record commercial revenues of £333.3 million. Matchday income also surged, reaching £160.3 million, the highest in club history. Looking ahead, United forecast revenues between £640 million and £660 million for the next financial year, despite missing out on European competition for the first time since 2014/15.
Earlier this year, Deloitte ranked Manchester United fourth in its Football Money League, behind Real Madrid, Manchester City, and Paris Saint-Germain. However, poor results at the start of the new season — including a League Cup defeat to fourth-tier Grimsby — have intensified pressure on manager Ruben Amorim.
