Manchester United’s published 2024–25 balance sheet reveals a club record £666.5 million ($909.5 million) revenue for the season, but still a net loss of £33 million.
By comparison, it is significantly less than 2023–24’s £113.2 million net loss, and therefore an important step forward when it comes to complying with PSR and other financial regulations.
While broadcasting revenue for the 12 months ending June 30, 2025, fell by 22%—attributed to the club playing in the Europa League rather than the Champions League, as had been the case in 2023–24—commercial and matchday revenues were up 10% and 17% respectively on the previous year.
Remarkably, that came against the background of United’s worst season on the pitch in 51 years, finishing 15th in the Premier League amid enormous changes at Old Trafford.
“To have generated record revenues during such a challenging year for the club demonstrates the resilience which is a hallmark of Manchester United,” CEO Omar Berrada said.
“Our commercial business remains strong as we continue to deliver appealing products and experiences for our fans, and best-in-class value to our partners. As we start to feel the benefits of our cost-reduction programme, there is significant potential for improved financial performance, which will, in turn, support our overriding priority: success on the pitch.”
Berrada also addressed the summer’s “pleasing” additions to both the men’s and women’s squads, meanwhile having emerged from “a period of structural and leadership change.”
Operating expenses fell by almost £35 million from 2023–24, but still outstripped revenue, costing the club £733.6 million over the course of the season. Wages came down by 14%, though.
The annual cost of amortisation—the process by which a transfer fee is divided over the length of a player’s contract—was £196.4 million. As of June 30, 2025, United owed an outstanding £537.3 million in unamortised balance of registrations. Costs related to dismissing Erik ten Hag and his staff last October contribute to exceptional expenses totalling £36.6 million.
For the 2025–26 season, United are predicting another healthy revenue to hit between £640–660 million, despite having no pending income from any UEFA competition.
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This article was originally published on www.si.com as Man Utd Announce Record-Breaking Figures From 2024–25 Accounts.
