Manchester United has reported a financial loss for the seventh consecutive year, with net losses rising to £43m for the year ending June 2026. This increase is despite the club achieving a new record revenue of £678m.
The club's total losses since 2019 now exceed £430m, although the annual deficit has been reduced from higher figures seen in 2021-22 and 2023-24. Chief executive Omar Berrada stated that record revenues and adjusted EBITDA demonstrate the underlying strength of the business.
Operating expenses fell by four per cent to £702m, largely attributed to cuts in the wage bill and the effects of over 400 job reductions in the preceding two years. Exceptional items, primarily related to the sacking of manager Ruben Amorim in January, amounted to £8.2m. The club also spent £63.5m to acquire land for a planned new 100,000-capacity stadium adjacent to Old Trafford.
Commercial revenue saw a five per cent decline to £317m, mainly due to the delay in securing a new training kit sponsor after Tezos. Matchday revenue also decreased by four per cent due to 10 fewer home games as a result of not participating in European competitions. However, broadcast revenue increased, supported by an improved Premier League performance that led to larger central distributions.