Manchester United reports record revenue of £666.5 million for fiscal year 2025, despite the club not featured in the UEFA Champions League.
This figure represents the highest ever in the club’s history, highlighting the enduring commercial power of the Old Trafford brand.
Although revenues reached historic levels, the club still recorded an operating loss of £18.4 million. However, this is a significant improvement in the £69.3 million reported loss in 2024, reflecting the positive impact of cost management and new commercial strategies.
Sacking Erik Ten Hag had economic implications
Part of the financial burden came from an exceptional cost of £36.6 million, including former manager Eric Ten Hag and his backroom staff’s resignation compensation package.
In terms of revenue, the Red Devils celebrated growth in key areas.
Record-breaking ticket sales and membership increased Match Day revenue by 17%. Despite the lack of Champions League football, Old Trafford has been a packed venue all season, with fans engagement more than ever.
Commercial revenue rose 10%, marking the first year of United’s profitable front-of-shirt sponsorship agreement as Snapdragon.
Going forward, Manchester United will introduce revenue guidance in fiscal 2026, forecasting £640 million to £660 million and adjustable EBITDA forecasts of £180 million to £200 million.
This suggests that the club expects slightly lower revenues in the short term, but there will be a stronger operating profit margin as cost-cutting measures become effective.
United CEO Omar Bellada put on an optimistic tone in his statement:
“We work hard to improve clubs in all areas. In the field, we are pleased with the additions we have made to our male and female first teams over the summer to build long-term. Off the field, we are equipped with our sport and potential objective institutions to deliver potential financial and commercial performance, and we are emerging from structural and leadership changes in our rapid and streamlined organizations. Next, we support our top priorities: success on the pitch.”
Man United need to work on the pitch now to succeed
For United supporters, the report highlights clubs that are financially resilient despite recent turbulence on the pitch.
A key challenge for the future is to translate these record-breaking commercial numbers and match-day numbers into consistent success in domestic and European competitions.
The Red Devils are currently struggling under Reuben Amorim, but the owner still believes that their manager will turn things around at Old Trafford.
Reuben Amorim faces the threat of losing his job to the mysteriously working Man United icon
