Manchester United losses jump despite record revenues

The latest earnings relate to a turbulent 2025/26 season, which saw former United player Michael Carrick replace Amorim and secure qualification for the Champions League. The increase in revenue was driven by an uptick in broadcasting income, boosted by a third-place finish in the Premier League -- up from 15th the previous season.

But commercial and matchday income each fell close to five percent during a season in which there were no European fixtures. Broadcasting income jumped almost 20 percent. United's accounts showed that they paid £8.2 million in exceptional items, mostly related to the departure of Amorim, who left in January after 14 months in charge.

They revealed also that the club paid £63.5 million to acquire land adjacent to stadium site Old Trafford and on which they plan to build a new 100,000-capacity arena. Ratcliffe has overseen wide-ranging, and often unpopular, cost-cutting measures, including widespread job cuts, after completing a deal to buy a stake in the club in February 2024.

United chief executive Omar Berrada said the latest figures showed the club's underlying strength. "This shows the direct impact of the work we have been doing over the past two years," he said in a statement.

"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.

United expect revenue of between £740 million and £760 million in the current financial year. Carrick's team has started the new season poorly despite signing a clutch of new players in the summer transfer window.

United have taken only five points from their five Premier League games -- equalling the club's worst-ever start to a season -- and last week crashed out of the English League Cup.