{"id":431182,"date":"2025-09-17T12:49:22","date_gmt":"2025-09-17T12:49:22","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/431182\/"},"modified":"2025-09-17T12:49:22","modified_gmt":"2025-09-17T12:49:22","slug":"man-united-break-667m-record-as-official-paperwork-released-psr-position-now-clear","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/431182\/","title":{"rendered":"Man United break \u00a3667m record as official paperwork released, PSR position now clear"},"content":{"rendered":"\n

Manchester United have released their Q4 results for the 2024-25 financial year, showcasing club-record revenues despite a woeful season on the pitch.<\/strong><\/p>\n

In the first full campaign under the leadership of Sir Jim Ratcliffe<\/a> following his \u00a31.25bn part-takeover, Man United<\/a> finished 15th in the Premier League and, after losing to Tottenham in the Europa League final<\/a>, ending the season without silverware or the promise of European football in 2025-26.<\/p>\n

It was a turbulent 12 months off the pitch too. Ineos<\/a> set in motion a sweeping redundancy programme, announced plans to build a new 100,000-seater stadium<\/a>, and stoked talk of a potential breach of Profit and Sustainability Rules (PSR)<\/a>.<\/p>\n

Unlike nearly all of their contemporaries, fans get an almost real-time window into United\u2019s finances<\/a> by virtue of the club being listed on the New York Stock Exchange, where businesses are required to file interim statements every three months.<\/p>\n

\"ManchesterPhoto by Plumb Images\/Leicester City FC via Getty Images<\/p>\n

Incidentally, a decree from US president Donald Trump<\/a> may mean this is soon no longer the case.<\/p>\n

But for the time being at least, supporters are able to pore over the accounts in forensic detail once every quarter, providing a more immediate and deeper indication as to the resources at the disposal of Ruben Amorim<\/a> and the rest of the sporting department, as well as commercial performance at Old Trafford<\/a>.<\/p>\n

And the latest figures direct from New York make encouraging reading.<\/p>\n

As they projected in their last interim report, United\u2019s Q4 results, released today, show that the club generated record revenues of \u00a3666.5m for 2024-25.<\/p>\n

That narrowly surpassed their previous record of \u00a3662m in 2023-24. Significantly, however, that was a season in which United competed in the lucrative Champions League, unlike last season.<\/p>\n

Perhaps most significantly, United\u2019s latest set of results forecasts revenue of \u00a3640-660m for 2025-26. That is despite the club having no revenue from UEFA at all.<\/p>\n

\"AnPhoto by Wolverhampton Wanderers FC\/Wolves via Getty Images<\/p>\n

United\u2019s bottom line showed a relatively modest loss of \u00a333m for the financial year, a significant improvement on the \u00a3131m over the same period in 2023-24.<\/p>\n

The fall-off in media income from the Champions League was offset by new club-records in matchday and commercial categories, which generated \u00a3333m and \u00a3160m respectively.<\/p>\n

United benefited from an uptick in sponsorship income from the front-of-shirt partnership with Qualcomm\u2019s Snapdragon brand, while stadium income increased due to a greater volume of matches, rising general admission prices and an increased emphasis on premium and hospitality ticketing.<\/p>\n

EBITDA (which stands for earnings before interest, tax, depreciation and amortisation, and is a key metric used to evaluate the underlying health of a business) stood at \u00a3183m, the third-highest in the club\u2019s history.<\/p>\n

Wages \u2013 which encompass both players and staff \u2013 totalled \u00a3313m, a decrease of over \u00a350m year-on-year. That was attributed to the absence of Champions League football, as well as the mass job cuts enacted by Ratcliffe and his enforcers in M16.<\/p>\n

Amortisation \u2013 which is how football clubs account for transfer fees over a player\u2019s contract term \u2013 stood at \u00a3196m, a small increase of 3.3 per cent on 2023-24.<\/p>\n

\u201cAs we settle into the 2025\/26 season, we are working hard to improve the club in all areas,\u201d said United CEO Omar Berrada<\/a>, commenting on the results.<\/p>\n\nMetric<\/td>\n2025 result<\/td>\n2024 result<\/td>\nChange <\/td>\n<\/tr>\n\nCommercial revenue<\/td>\n\u00a3333.3m<\/td>\n\u00a3302.9m<\/td>\n+10.0%<\/strong><\/td>\n<\/tr>\n\nBroadcasting revenue<\/td>\n\u00a3172.9m<\/td>\n\u00a3221.8m<\/td>\n-22.0%<\/strong><\/td>\n<\/tr>\n\nMatchday revenue<\/td>\n\u00a3160.3m<\/td>\n\u00a3137.1m<\/td>\n+16.9%<\/strong><\/td>\n<\/tr>\n\nTotal revenue<\/strong><\/td>\n\u00a3666.5m<\/strong><\/td>\n\u00a3661.8m<\/strong><\/td>\n+0.7%<\/strong><\/td>\n<\/tr>\n\nAdjusted EBITDA<\/td>\n\u00a3182.8m<\/td>\n\u00a3147.7m<\/td>\n+23.8%<\/strong><\/td>\n<\/tr>\n\nOperating loss<\/td>\n-\u00a318.4m<\/td>\n-\u00a369.3m<\/td>\n73.4% improvement<\/strong><\/td>\n<\/tr>\n\nNet loss<\/td>\n-\u00a333.0m<\/td>\n-\u00a3113.2m<\/td>\n70.8% improvement<\/strong><\/td>\n<\/tr>\n\nBasic loss per share<\/td>\n-19.32p<\/td>\n-68.44p<\/td>\n71.8% improvement<\/strong><\/td>\n<\/tr>\n\nAdjusted net loss<\/td>\n-\u00a317.5m<\/td>\n-\u00a355.1m<\/td>\n68.2% improvement<\/strong><\/td>\n<\/tr>\n\nAdjusted basic loss per share<\/td>\n-10.24p<\/td>\n-33.32p<\/td>\n69.3% improvement<\/strong><\/td>\n<\/tr>\n\nNon-current borrowings (USD)<\/td>\n$650.0m<\/td>\n$650.0m<\/td>\n0.0%<\/strong><\/td>\n<\/tr>\n

\u201cOn the field, we are pleased with the additions we have made to our men\u2019s and women\u2019s 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 organisation equipped to deliver on our sporting and commercial objectives.<\/p>\n

\u201cWe are also investing to upgrade our infrastructure, including completion of the \u00a350m redevelopment of our men\u2019s first team building at Carrington, on time and on budget, following prior investment in our women\u2019s team facilities, to create a world-class environment for our players and staff. Meanwhile, planning continues to meet our ambition of developing a new stadium at Old Trafford as part of a transformational regeneration of the surrounding community.<\/p>\n

\u201cTo 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 programme, there is significant potential for improved financial performance, which will, in turn, support our overriding priority: success on the pitch.\u201d<\/p>\n

More analysis from United in Focus<\/strong> to follow\u2026<\/p>\n