Despite sitting idle while Premier League rivals compete for midweek continental honours, Omar Berrada believes Manchester United are showing “strong progress” following the release of the latest financial figures.
Although total revenue is slightly down, Sir Jim Ratcliffe’s mission to transform the 20-time English champions into a profit-making football club has resulted in a positive figure for the quarter.
Naturally, this has come off the back of several contentious decisions that have left more than a sour taste in the mouths of the Old Trafford faithful, stranding the club in a tight financial situation.
Still, having recorded losses of £113.2m for the year to 30 June 2024, this latest mandatory statement reveals a welcome profit for the quarter to 30 September 2025.
This Manchester United financial report reveals profits without January certainty
Before diving into the meat and gravy of these latest financial revelations, it is imperative to note that, as a PLC, this was a mandatory statement to the stock exchange.
The club’s total revenue has dropped from £143.1m to £140.3 m due to a variety of factors, including declines in broadcasting and commercial revenue and the expected drop in matchday revenue.
Despite this minor decline, United is still making more money. Remember, the club posted an operating loss of £7m for the same period last year, and has turned that into a £13m profit today.
There are more complex financial calculations within called the adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation). Notably, that figure stands at £26.9m for the quarter – an increase of £3.2m.
“These robust financial results reflect the resilience of Manchester United as we make strong progress in our transformation of the club,” Berrada stated.
“The difficult decisions we have made in the past year have resulted in a sustainably lower cost base and a more streamlined, effective organisation equipped to drive the club towards improved sporting and commercial performance over the long term.
“That has helped us to invest in our men’s and women’s teams, sitting in sixth and third places in the Premier League and Women’s Super League respectively.”
Regardless of opinion on any of this new-look sporting hierarchy, the figures do highlight a positive trend, despite the anger for staff layoffs, cuts in employee benefits, controversial moves towards ticket pricing and more.
Ratcliffe’s Ineos oversaw a large redundancy strategy as part of the wider restructuring of operations, accounting for £8.6m in exceptional items in the first quarter of fiscal 2026.
Alongside player salary reductions and offloading the likes of Marcus Rashford, Jadon Sancho, Antony, and Alejandro Garnacho, employee benefit expenses decreased to £73.6m from the previous year (a total of £6.6m).
Inevitably, this will lead supporters to question how much money the club can spend in January.
Having analysed the figures and revised the wider revenue plan, I can’t see significant activity happening during the mid-season window.
That said, the numbers suggest there will not be any reductions in long-term spending plans over the next 12 months.
Having spoken to sources close to the club, we’re told that senior officials remain entirely committed to compliance with the Premier League’s Profit and Sustainability Rules (PSR).
The club doesn’t have the required cash to move for a primary target unless departures are lined up in the coming weeks.
Furthermore, Summer remains the priority for squad investment, unless a promising situation presents itself in January.
Given the desire for midfield recruitment, a €30 million fee for Conor Gallagher has raised internal deliberations, given his age, footballing profile and Premier League experience.
But as of today, no decision has been made, and Ruben Amorim continues to work in unison with boardroom executives towards building a successful squad.
How do you feel about these latest financial revelations for Manchester United? Let us know in the comments or across our social channels.
Recent Posts
- Episode 90 | The great midfield conundrum at Manchester United
- Embracing the stability of Senne Lammens in Manchester – Opinion
- Is Sandro Tonali the answer to the midfield question in Manchester
