Manchester United announce record revenue despite on-field decline

Manchester United have announced record annual revenues of £666.5m, a paradoxical high at a time when the club continues to flounder on the pitch.

United finished a dismal 15th in the Premier League last season, their lowest placing since relegation in 1974, yet the balance sheet tells a different story. Driven by the launch of a lucrative front-of-shirt sponsorship with technology giant Snapdragon, commercial revenue reached £333.3m, while matchday earnings also hit a record £160.3m for the year ending 30 June 2025, BBC Sport reports.

Chief executive Omar Berrada hailed the results as proof of the club’s “ resilience ,” emphasising United’s commitment to building “ for the long term .” The club also posted a reduced overall loss of £33m, a sharp improvement on the £113.2m deficit of the previous year.

Nevertheless, the figures highlight the contradictions at Old Trafford. Broadcasting revenue dropped by £48.9m owing to the absence of Champions League football, with United not competing in Europe at all this season. Meanwhile, the club continues to carry significant debt: £471.9m in long-term loans, alongside £165.1m in short-term borrowings, and a rising burden of outstanding transfer fees.

Cost-cutting measures have also left their mark. The workforce has been reduced from 1,100 to 700 in two years, prompting criticism from supporters and former staff alike. Wages fell by £51.5m, largely due to automatic player salary reductions triggered by missing out on Champions League qualification. The accounts also list £36.6m in “ exceptional items ,” covering severance payments to former manager Erik ten Hag, interim boss Ruud van Nistelrooy, and ex-technical director Dan Ashworth.

Despite these financial manoeuvres, United have continued to invest heavily in new signings. Since June, the club has spent a reported £156.8m on Bryan Mbeumo, Benjamin Sesko and goalkeeper Senne Lammens.

Globally, United remain a commercial powerhouse. Deloitte’s rankings earlier this year placed them fourth in world football revenue, behind Real Madrid, Manchester City , and Paris Saint-Germain. The Snapdragon deal has helped the club overtake Liverpool in sponsorship earnings, underscoring United’s enduring pull despite on-field struggles.

Berrada maintains that financial stability will underpin future success. “ As we start to feel the benefits of our cost reduction programme, there is significant potential for improved performance, which will, in turn, support our overriding priority: success on the pitch .”

GFN | Finn Entwistle