Manchester United’s Financial Woes Deepen as Ten Hag and Ashworth Sackings Cost £14.5m Amid Revenue Decline

- Manchester United’s Financial Woes Deepen as Ten Hag and Ashworth Sackings Cost £14.5m Amid Revenue Decline
- Manchester United’s Financial Woes Deepen as Ten Hag and Ashworth Sackings Cost £14.5m Amid Revenue Decline
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Manchester United’s latest quarterly accounts, submitted to the New York Stock Exchange (NYSE), have revealed the substantial financial impact of the dismissals of former manager Erik ten Hag and sporting director Dan Ashworth. The club was forced to pay a combined compensation bill of £14.5 million ($18.2m) following Ten Hag’s sacking in October, just four months after he signed a new contract until June 2026.

The decision to extend Ten Hag’s deal, rather than terminate his existing one with 12 months remaining, proved costly for the club. Ashworth, who joined United from Newcastle United in a multi-million-pound settlement, also departed after just five months in his role. The severance packages for both Ten Hag and Ashworth were listed under “Exceptional Items” in the accounts, with the club stating, “Exceptional items for the quarter were a cost of £14.5m. This relates to costs associated with the departure of former men’s first team manager Erik ten Hag and various members of football staff.”

The financial figures also highlight a £44.8m drop in broadcasting revenue over the past 12 months, primarily due to the club’s participation in the Europa League rather than the more lucrative Champions League. While commercial revenue saw a modest increase of £3.8m to £43m year-on-year, attributed to a new shirt sponsorship deal with Qualcomm, the net finance costs skyrocketed from £300,000 to £37.6m. The club cites “an unfavourable swing in foreign exchange rates resulting in unrealised foreign exchange losses on unhedged USD borrowings” as the reason for this significant increase.

Despite the concerning financial numbers, United chief executive Omar Berrada maintained that the club’s focus remains on improving the men’s team’s league position. Currently sitting in fifteenth place, just three spots above the relegation zone, the team faces a crucial match against Everton on Saturday.

Berrada stated, “We recognise the challenges in improving our men’s team’s league position and we are all working hard, collectively, to achieve that. At the same time, we are pleased to have progressed to the knock-out phase of the UEFA Europa League and the fifth Round of the FA Cup. Meanwhile, our women’s team is currently placed second in the Women’s Super League, and has reached the quarterfinals of the FA Cup.”

The Manchester United Supporters Trust (MUST) has criticized the club’s recent decision to increase ticket prices to £66, arguing that it would be “futile and counter productive” and would only generate an additional £2m in revenue. In a statement, MUST said, “Fans should not pay the price for a problem that starts with our crippling debt interest payments and is exacerbated by a decade or more of mismanagement. It’s time to freeze ticket prices and allow everyone — players, management, owners and fans — to get behind United and restore this club to where it belongs.”

WRITTEN BY

Jarrod

Jarrod Partridge is the Founder of Futbol Chronicle and an accredited journalist with over 30 years of experience following international football. A member of the AIPS International Sports Press Association, Jarrod has covered matches at stadiums around the world, bringing first-hand insight to every match report, player profile, and tactical analysis he writes.

More articles by Jarrod →
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