Manchester United have announced record revenues in their latest financial results, despite a tumultuous end to last season and a rocky start to the new Premier League campaign.
The club, co-owned by the Glazer family and Sir Jim Ratcliffe, today (Wednesday) announced its financial results for the fourth quarter of 2025 and the twelve months ending June 30, 2025. Despite finishing 15th in the Premier League and losing the Europa League final under Ruben Amorim, the Red Devils still managed to rake in revenues of £164.1 million in the fourth quarter, contributing to a record total revenue of £666.5 million for the fiscal year 2025.
Commercial revenues stood at £88.2million, with total commercial revenues hitting a record £333.3million in fiscal 2025, the first year of United's five-year shirt sponsorship deal with Snapdragon. Matchday revenues were reported at £37.2million, contributing to the record fiscal 2025 matchday revenues of £160.3million.
The operating loss for the year was £18.4million, an improvement compared to the operating loss of £69.3 million in fiscal 2024. The club also highlighted a successful pre-season tour of Sweden and the United States.
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There were new sponsorship deals with Coca-Cola, Sokin and Parimatch, renewed partnerships with STATSports, Canon and Sportsbreaks, and the completion of the £50m investment in its Carrington training ground, which was finished "on time and on budget, delivering world-class facilities for our players and staff".
United's chief executive officer, Omar Berrada, said "As we settle into the 2025/26 season, we are working hard to improve the club in all areas.
"On the field, we are pleased with the additions we have made to our men's and women's first team squads over the summer, as we build for the long-term.
"Off the field, we are emerging from a period of structural and leadership change with a refreshed, streamlined organisation equipped to deliver on our sporting and commercial objectives.
"We are also investing to upgrade our infrastructure, including completion of the £50m redevelopment of our men's first team building at Carrington, on time and on budget, following prior investment in our women's team facilities, to create a world-class environment for our players and staff.
"Meanwhile, planning continues to meet our ambition of developing a new stadium at Old Trafford as part of a transformational regeneration of the surrounding community.

"To have generated record revenues during such a challenging year for the club demonstrates the resilience which is a hallmark of Manchester United.
"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."
Despite bolstering their first team with the signings of Matheus Cunha, Diego Leon, Bryan Mbeumo, Benjamin Sesko and Senne Lammens, United find themselves in 14th place in the Premier League table with just one win from four matches. They also suffered a shock exit from the Carabao Cup at the hands of League Two side Grimsby Town.
The club has stated that it has "implemented a transformation plan, put in place to enhance operational efficiency". United added: "The benefit of this is expected to be seen across our revenue and cost base in fiscal 2026.
"For full year fiscal 2026, the company introduces revenue guidance of £640million to £660million and adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) guidance of £180million to £200million."
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