Manchester United Posts Record Revenue, £43m Loss
Manchester United Posts Record Revenue, £43m Loss
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Key Points
1
Manchester United reported record adjusted EBITDA of £216.4 million, an 18.4% increase from the previous financial year, although fourth-quarter revenue and EBITDA fell to £157.5 million and £28.9 million respectively.
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Commercial revenue declined by £16 million to £317.3 million, while sponsorship revenue also fell; the club’s results were delivered during a season in which it had no training-kit sponsor.
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United finished third in the Premier League after interim manager Michael Carrick won 11 of his 16 matches during the second half of the season; the club had finished 15th the previous campaign and lost that season’s Europa League final to Tottenham.
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Non-current borrowings rose to £577.6 million from £471.9 million a year earlier, while the club’s revolving credit facility stood at £110 million; United attributed part of the increase to higher interest rates and the refinancing of bonds in June.
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The club announced major new sponsorship agreements with Betway and SumUp as part of its commercial strategy for the next phase of growth.
Manchester United posted record revenue of £677.6 million for the year ended June 30, 2026, up 1.7% from £666.5 million a year earlier, according to MarketScreener. Despite the financial milestone, the club reported a pre-tax loss of about £43 million, widening from the prior year after costly managerial changes. The losses masked solid operational gains: adjusted EBITDA jumped 18.4% to £216.4 million, and an operating profit of £22.6 million reflected cost-cutting and improved Premier League performance.
Manchester United finished third in the Premier League after interim manager Michael Carrick won 11 of 16 matches in the season's second half, a sharp turnaround from a 15th-place finish the year before, Yahoo Sports reported. The club missed European competition for another year but expects revenue to jump to £740 million–£760 million next year as it returns to the Champions League.
Record Revenue Despite Missing Europe
Manchester United's £677.6 million revenue marked a club record, driven by strong commercial partnerships and improved domestic results. However, the absence of Champions League football limited European broadcast and matchday income. Fourth-quarter revenue fell to £157.5 million from £164.19 million a year earlier, according to MarketScreener, signaling seasonal weakness.
Adjusted EBITDA—a measure of underlying profitability—rose sharply to £216.4 million from £183.2 million, an 18.4% increase. This improvement came despite commercial revenue declining £16 million to £317.3 million. The club operated without a training-kit sponsor during the year, creating a headwind that new deals with Betway and SumUp are expected to reverse.
Cost-Cutting and Managerial Upheaval
Manchester United cut wages and reduced headcount to improve underlying profitability. However, the exit of manager Ruben Amorim—who left to join AC Milan—cost the club £8.2 million in severance and related expenses. Operating profit of £22.6 million showed the club can control spending, but managerial turbulence continues to drain resources.
Interim boss Michael Carrick's success in the second half of the season—winning 11 of 16 matches—helped offset earlier underperformance. The club finished third in the Premier League after sitting 15th the prior year and losing the Europa League final to Tottenham. Yahoo Sports reported these results justified management's pivot to cost discipline.
Debt Rises as Interest Rates Climb
Non-current borrowings jumped to £577.6 million from £471.9 million a year earlier, an increase of £105.7 million. MarketScreener cited higher interest rates and bond refinancing in June as key drivers. The club also maintains a £110 million revolving credit facility, bringing total debt capacity to roughly £578 million–£583 million.
Manchester United has pledged financial discipline despite rising debt. The club is investing in new infrastructure—it has secured land for a proposed 100,000-seat stadium—betting that Champions League return and new sponsorship deals will generate revenue growth of £60 million–£80 million next year.
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