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Manchester United has reported a net loss of £113.2m for the financial year ending 30 June, marking yet another challenging year for the club. This follows previous losses of £28.7m in 2022-23 and £115.5m in 2021-22, bringing their total losses over the past five years to over £370m.
Despite these significant losses, the club is not expected to breach the Premier League’s profit and sustainability rules. According to the regulations, clubs cannot lose more than £105m over a three-year period, but allowances known as “add backs” mean that not all spending is counted toward these calculations. Clubs like Everton and Nottingham Forest have recently received points deductions for breaching these rules, but Manchester United’s chief executive Omar Berrada assured that the club remains in compliance with both Premier League and UEFA’s financial fair play regulations.
The latest financial figures cover a period when United finished eighth in the Premier League and were eliminated at the group stage of the Champions League, though they did manage to win the FA Cup. British billionaire Sir Jim Ratcliffe’s purchase of a 27.7% stake in the club last season also marked a significant development.
Under the co-ownership of Ratcliffe’s Ineos, United has undergone a broad review of its operations, led by Sir Dave Brailsford. As part of its efforts to reduce costs, the club announced a plan in July to cut 250 jobs. This cost-cutting initiative is expected to save between £30m and £35m over the next two years starting in 2025.
In addition to its longstanding debt of $650m (£496.52m), United also has current borrowings totaling £35.6m, with an outstanding balance of £30.0m on its revolving credit facility as of 30 June. The club remains optimistic, projecting revenue between £650m and £670m next year after recording a record £661.8m this year. However, wages rose by 10%, reaching £364.7m.
