Manchester United’s annual net loss increased by almost one-third to £43 million despite the club recording its highest-ever revenue of £677.6 million for the financial year ending June 30.
The figure represents a 1.7 per cent increase in revenue and marks the seventh consecutive year in which the club has reported an annual loss after tax.
United said the increased loss reflected several factors, including contractual payments linked to the departure of former manager Ruben Amorim, higher loan repayments and the impact of cost-cutting measures introduced under co-owner Jim Ratcliffe.
The latest financial results cover the 2025/26 season, which saw Amorim leave his position in January after 14 months in charge before former United midfielder Michael Carrick took over.
Carrick subsequently guided the club to a third-place finish in the Premier League and Champions League qualification.
United’s broadcasting income increased by almost 20 per cent, helped by the improved league position from 15th in the previous campaign.
However, commercial and matchday revenues each fell by almost five per cent during a season in which the club did not compete in European competitions.
The club’s accounts showed £8.2 million in exceptional costs, with most of the expenditure linked to Amorim’s departure.
United also spent £63.5 million acquiring land adjacent to the Old Trafford stadium site as part of plans to construct a new 100,000-capacity stadium.
Ratcliffe, who completed a deal to acquire a minority stake in Manchester United in February 2024, has overseen extensive cost-cutting measures at the club, including significant job reductions.
Despite the financial loss, United Chief Executive Omar Berrada said the latest figures demonstrated the club’s underlying commercial strength.
“This shows the direct impact of the work we have been doing over the past two years,” Berrada said.
“It also proves Manchester United’s enduring popularity and commercial strength.
“While these results confirm that we are on the right trajectory, we will continue to take a disciplined approach to ensure our finances remain sustainable,” he added.
Manchester United expects to generate between £740 million and £760 million in revenue during the current financial year.
On the pitch, however, the club has endured a difficult start to the new campaign despite making several additions during the summer transfer window.
Carrick’s side have collected only five points from their opening five Premier League matches, matching the club’s worst-ever start to a league season.
United were also eliminated from the English League Cup last week.
