Manchester United Post Record £666.5m Revenue but £33m Loss

• Revenues reached £666.5m in 2024-25, up 0.7% despite missing out on Champions League football.
• Losses narrowed to £33m after major cost-cutting overseen by co-owner Sir Jim Ratcliffe.
• Chief executive Omar Berrada says record income shows “resilience” and underpins long-term priorities.

Manchester United have announced record revenues of £666.5 million ($909m) for last season, but the club still posted a loss of £33m for the financial year.

The absence of Champions League football in 2024-25 cost United almost £50m, while the team endured their lowest top-flight finish in 51 years. Despite that, the club reported a 0.7% rise in revenue to £666.5m. Accounts for the year ending June 30, 2025, showed the operating loss had fallen from £69.3m to £18.4m compared to the previous 12 months. Overall losses dropped from £113.2m to £33m.

The financial results followed sweeping changes made by co-owner Sir Jim Ratcliffe, who has not shied away from describing the scale of the challenge. In March, he said the club had “gone one off the rails” as a business and admitted United would have gone “bust at Christmas” if they had not taken “really tough decisions.”

Chief executive Omar Berrada said the club is already beginning to feel the impact of that overhaul.

“As we settle into the 2025-26 season, we are working hard to improve the club in all areas,” he said. “On the field, we are pleased with the additions we have made to our men’s and women’s first-team squads over the summer, as we build for the long term.

“Off the field, we are emerging from a period of structural and leadership change with a refreshed, streamlined organization equipped to deliver on our sporting and commercial objectives.

“To have generated record revenues during such a challenging year for the club demonstrates the resilience which is a hallmark of Manchester United.

“Our commercial business remains strong as we continue to deliver appealing products and experiences for our fans, and best-in-class value to our partners.

“As we start to feel the benefits of our cost-reduction program, there is significant potential for improved financial performance, which will, in turn, support our overriding priority: success on the pitch.”

United project revenue for the current financial year to be between £640m and £660m, with no European football for the first time since 2014-15.