Manchester United has published its 2024-25 balance sheet, with the Man Utd financial results revealing a club-record £666.5 million ($909.5m) revenue for the season, alongside a reduced net loss of £33 million.
By comparison, the figure is a significant improvement on the £113.2 million net loss from 2023-24, marking an important step towards complying with PSR and other financial regulations.
While broadcasting revenue for the 12 months ending June 30, 2025, dropped by 22%—attributed to the club’s participation in the Europa League rather than the Champions League—commercial and matchday revenues saw respective increases of 10% and 17% from the previous year.
Remarkably, this record revenue was achieved against the backdrop of United’s worst season on the pitch in 51 years, where they finished 15th in the Premier League.
“To have generated record revenues during such a challenging year for the club demonstrates the resilience which is a hallmark of Manchester United,” said CEO Omar Berrada. “As we start to feel the benefits of our cost-reduction programme, there is significant potential for improved financial performance, which will, in turn, support our overriding priority: success on the pitch.”
Operating expenses fell by nearly £35 million from the previous season but, at £733.6 million, still outstripped revenue. Wages, however, were down by 14%. Costs related to the dismissal of Erik ten Hag and his staff last October contributed to exceptional expenses totalling £36.6 million.
For the current 2025-26 season, United is forecasting another healthy revenue stream, projected to be between £640-£660 million, despite having no income from any UEFA competition