The Red Devils, owned by INEOS Group, have announced net losses despite record revenues in 2024.
For the fifth consecutive year, Manchester United announced net losses on Wednesday, estimated for last season at 113.2 million pounds (133.7 million euros), despite record revenues.
For the financial year ending June 30, the Premier League club posted record revenue of £661.9 million (€782.3 million), up 2.1% on the previous year (£648.4 million) thanks to matchday revenue and commercial income.
Manchester United have spent £47.8m (€56.5m) on new signings “exceptional elements”mainly linked to the purchase of minority shares by its co-owner Jim Ratcliffe, also owner of OGC Nice, finalized in February.
The Premier League’s Profit and Sustainability Rules (PSR) allow for maximum losses of £105m (€124m) over a three-year period. Some losses are deemed “admissible”such as spending on infrastructure, women’s and youth teams.
Everton and Nottingham were both penalised with points deductions last season for breaching the Premier League’s financial rules. Everton withdrew their appeal against their two-point penalty in May and Nottingham’s appeal was dismissed.
MU seeks ‘better financial sustainability’
In recent months, Manchester United has embarked on a major internal reorganisation, appointing Moroccan Omar Berrada as its new chairman and CEO in January, after eight years as director of football operations at Manchester City.
“As I begin my new role as CEO of this historic club, we are all extremely focused on our collective work to create a bright future with football success at its heart.”said Omar Berrada. He said the club was working “to better financial viability” and operated “changes to our operations to make them more efficient, to make sure we’re focusing our resources on improving performance on the ground.”
Eliminated in the group stage of the Champions League last season, the Mancunian club finished eighth in the Premier League, its worst ranking since 1990. But Erik ten Hag’s men won the FA Cup final against Manchester City (2-1) in May.
Since the start of the current season Manchester United have suffered two defeats in three games before facing Southampton on Saturday.
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