United's losses rise despite record revenues

London – AFP – English football club Manchester United’s annual net loss rose by approximately one-third to £43 million ($57 million), despite the club reporting record revenues.

The “Red Devils” announced revenues of £677.6 million ($899.2 million) for the year ended June 30, a 1.7 percent increase.

However, the club reported its seventh consecutive annual loss after taxes, as cost-cutting measures implemented by co-owner Jim Ratcliffe in operating expenses were offset by contractual payments to dismissed Portuguese manager Ruben Amorim and a significant increase in loan repayments.

The latest financial results pertain to the turbulent 2025-2026 season, during which former United player Michael Carrick replaced Amorim and led the team to qualification for the UEFA Champions League.

The revenue increase was driven by higher broadcast income, thanks to the team finishing third in the English Premier League, after ending the previous season in 15th place.

However, commercial revenues and matchday revenues each fell by approximately 5 percent during a season in which the team did not play any European matches. Broadcast income jumped by around 20 percent.

United’s accounts showed that the club paid £8.2 million ($10.8 million) in exceptional items, most of which related to Amorim’s departure in January after 14 months in charge.

The accounts also revealed that the club paid £63.5 million ($84.2 million) to acquire land adjacent to the Old Trafford stadium site, where it plans to build a new stadium with a capacity of 100,000 spectators.

Ratcliffe has overseen extensive cost-cutting measures, many of which have been unpopular, including the dismissal of a large number of employees, after completing his purchase of a stake in the club in February 2024.

United expects revenues to range between £740 million and £760 million (over $1 billion) in the current financial year.

Carrick’s team started the new season poorly, despite signing a group of new players during the summer transfer window.

United has collected only five points from its five league matches, matching its worst-ever start to a season, and was eliminated from the EFL Cup last week.