Man Utd Chief Turns Blind Eye to Damaging Financial Milestone as Latest Accounts Reveal Troubling Record
Manchester United CEO Omar Berrada has praised a "strong" financial performance for the opening quarter of 2025–26, despite recent accounts revealing the club's net debt has exceeded $1 billion (£749 million) for the first time following a costly summer spending spree.
United invested over £200 million during the transfer window, strengthening Ruben Amorim's attack with acquisitions including Bryan Mbeumo, Matheus Cunha and Benjamin Šeško.
To fund the installment payments for these signings—along with outstanding fees from previous transfers—United secured £105 million in loans. Combined with existing debt accumulated during the Glazers' tenure and additional borrowing, the Red Devils now carry a net debt of £749 million.
Berrada overlooked this record debt milestone to highlight the encouraging aspects of the quarterly financial performance.
With the campaign officially beginning July 1, income for the three-month period ending September 30, 2025 totaled £140.3 million ($187.9 million).
This represented a minor decline from £143.1 million generated in the corresponding 2024–25 period, with all revenue streams—commercial, broadcasting, matchday—falling by 1.1–4.5%. The largest decrease (4.5%) occurred in broadcasting revenue, attributed to the club's absence from European competition this season.
United recorded a £13 million operating profit, though posted a £6.6 million net loss. During the same timeframe last year, the club had suffered an operating loss, indicating progress.
Man Utd Revenue: 2025–26 Quarter 1
Category | 2024–25 | 2025–26 | Change |
|---|---|---|---|
Commercial | £85.3 million | £84.2 million | -1.3% |
Broadcasting | £31.3 million | £29.9 million | -4.5% |
Matchday | £26.5 million | £26.2 million | -1.1% |
Total | £143.1 million | £140.3 million | -2% |
"These solid financial outcomes demonstrate Manchester United's strength as we advance significantly in our club transformation," Berrada stated.
"The challenging choices we've implemented over the past year have created a sustainably reduced cost structure and a more efficient, focused organization positioned to propel the club toward enhanced sporting and commercial success in the long run.
"This has enabled us to support our men's and women's squads, currently positioned sixth and third in the Premier League and Women's Super League respectively."
How Much Money Have Man Utd Saved Through Staff Redundancies?
The "challenging choices" Berrada mentioned relate to cost-reduction initiatives implemented since co-owner Sir Jim Ratcliffe assumed control of sporting affairs and daily operations.
An initial round of layoffs in 2024 resulted in approximately 250 employees losing their positions, followed by a second phase earlier this year. Up to 200 additional staff members were anticipated to be dismissed, reducing the club's total workforce by nearly 40% from over 1,100 since Ratcliffe's partial acquisition.
When comparing the first quarter of 2025–26 to 2024–25, United successfully reduced operating expenses by £13.2 million over the three-month span. Half of this savings—£6.6 million—resulted from additional workforce reductions, representing nearly a 10% decrease in employee benefit costs "mainly due to workforce reduction initiatives implemented in the previous year."