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New Delhi: Manchester United announced record revenues in the club's latest annual accounts despite missing out on the European football and suffering its worst-ever finish in the Premier League 2024-25 season.
But despite the revenue of 666.5 million pounds ($910 million), the 20-time English champion still reported losses of 33 million pounds ($45 million). Manchester United’s New York-listed shares were down 3.8 per cent at $15.79 in premarket trading.
The financial results for the year ending June 30, 2025, came after minority owner Jim Ratcliffe started cost-cutting measures. This included two rounds of job cuts, reducing more than 400 staff members, along with ticket price hikes at Old Trafford.
In January, the club told fans that it couldn't keep up with its losses, and Ratcliffe later said the club was in danger of running out of money by the end of the year. Manchester United's losses fell from 113.2 million pounds to 33 million.
The club's commercial strength comes despite its current trouble on the field. The Red Devils have struggled to keep pace with Premier League rivals like Liverpool, Manchester City and Arsenal.
The club didn't feature in the Champions League last season and finished 15th in the Premier League, its lowest since the start of the Premier League in 1992. Ruben Amorim's side also recorded its lowest points total and highest number of losses, due to which the club failed to qualify for any European football competition this season.
Manchester United have not won the league title since Alex Ferguson retired in 2013. They also got off to a poor start in this season, with Ruben Amorim's team only winning one match out of four. They have been knocked out of the English League Cup by fourth-tier Grimsby Town.
The club said that the costs of 36.6 million ($50 million) included the departure of former manager Erik ten Hag, who was fired last October. Manchester United's principal debt remains at $650 million.
Manchester United's CEO Omar Berrada said that they are working hard to improve the club in all areas, and they have started feeling the benefits of the cost-reduction program. He further added that there is significant potential for improved financial performance, which will, in turn, support their overriding priority to succeed on the pitch.
"To have generated record revenues during such a challenging year for the club demonstrates the resilience which is a hallmark of Manchester United," chief executive Omar Berrada added.
After suffering a heavy defeat in the Manchester Derby, the Red Devils will take on Chelsea in their next Premier League match on Saturday, September 20.
