Manchester United on Wednesday reported an annual net loss for the sixth consecutive year despite record revenues of £666.5 million ($910 million).
The Red Devils were without Champions League football in 2024/25 and stumbled home 15th in the Premier League — their lowest top-flight finish in 51 years.
Ruben Amorim’s men reached the final of the Europa League but lost to Tottenham in Bilbao.
Revenue marginally increased by 0.7 per cent to £666.5 million in the year ending June 30, 2025, while the operating loss fell significantly from £69.3 million to £18.4 million compared with the previous 12 months.
Overall losses dropped significantly from £113.2 million to £33 million after co-owner Sir Jim Ratcliffe oversaw wide-ranging, and often unpopular, cost-cutting measures, including widespread job cuts.
Chief executive Omar Berrada said in a statement on Wednesday United were beginning to feel the benefits of their cost-saving measures, adding the club were building for the “long term”.
“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,” he said.
“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.
“To have generated record revenues during such a challenging year for the club demonstrates the resilience which is a hallmark of Manchester United.”
The start of a five-year shirt sponsorship deal with Snapdragon fulled record commercial revenues of £333.3 million while the club achieved record matchday revenues of £160.3 million.
United are expecting the next financial year to bring in revenue of £640 million to £660 million despite being without European football for the first time since 2014/15.
In January, Deloitte ranked United fourth in its annual Football Money League, behind Real Madrid, Manchester City and Paris Saint-Germain, showing the robustness of the club’s finances despite years of under-achievement.
The team have started the new season poorly, taking just four points from their first four matches in the Premier League, their worst to a league campaign since 1992/93.
Manager Amorim, whose team also crashed out of the League Cup at the hands of fourth-tier Grimsby, is under huge pressure ahead of Saturday’s home match against Chelsea at Old Trafford.
