Manchester United have reported an annual net loss for the sixth year in a row, despite achieving record revenues of £666.5 million ($910 million) in the 2024/25 financial year.
The club endured a disappointing campaign on the pitch, finishing 15th in the Premier League — their lowest top-flight placing in over half a century — and missing out on Champions League football.
Although Ruben Amorim’s side reached the Europa League final, they were beaten by Tottenham in Bilbao.
Financially, revenues rose slightly by 0.7 per cent compared to the previous year, with a strong boost from the start of a five-year shirt sponsorship deal with Snapdragon.
Commercial income hit a record £333.3 million, while matchday revenues also reached an all-time high of £160.3 million.
Despite this, overall losses stood at £33 million, a sharp improvement on the £113.2 million reported the previous year. Operating losses were also reduced significantly, falling from £69.3 million to £18.4 million, aided by sweeping cost-cutting measures introduced by co-owner Sir Jim Ratcliffe.
These included restructuring efforts and widespread job cuts, which were often met with criticism from staff and supporters.
United are forecasting revenue between £640 million and £660 million for the 2025/26 season, even though the club will be without European football for the first time since 2014/15.
Off the pitch, the club continues to rank among the most financially resilient in world football. Deloitte placed United fourth in its 2025 Football Money League, behind Real Madrid, Manchester City and Paris Saint-Germain.
However, pressure is mounting on Amorim after a poor start to the new campaign. United have collected just four points from their opening four league games — their worst start to a season since 1992/93 — and were also eliminated from the League Cup by fourth-tier Grimsby.
Saturday’s home clash with Chelsea at Old Trafford is being billed as a critical test for the under-fire manager.
