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Manchester United have announced their first quarter financial results, revealing total revenue up to September 30 was £143.1million.
This includes a profit of £1.3m compared to a £32.8m loss during the same period last year. The modest profit highlights just how little new head coach Ruben Amorim will have to spend as he seeks to bolster his squad.
Soon after INEOS billionaire Sir Jim Ratcliffe completed his partial 27.7% investment in the club, United moved to make around 250 staff members redundant. This was aimed at slashing operational costs, amidst a desire to remain compliant with the Premier League’s Profit and Sustainability Rules.
United relay that their commercial revenue took a hit as a result of a shorter pre-season campaign.
Unlike last year in which the Red Devils played five matches in the United States, they played just three games before the start of the ongoing 2024/25 season.
The club’s commercial revenue for the first quarter stands at £85.3m, which represents a slight 5.6% reduction from last year’s first quarter.
United have also confirmed a loss in broadcast revenue compared to the first quarter of 2023. Amorim’s side earned £31.3m from their participation in the Europa League. Last year’s broadcasting revenue was higher because United were in the Champions League.
It’s important to note that United’s latest figures do not take into account the compensation forked out to Erik ten Hag following his dismissal as manager last month, of around £15m, or the €11m sum paid to Sporting Lisbon for the appointment of Amorim as the Dutchman’s replacement.
The matchday revenue for the first quarter closely mirrors the figure from the same period last year, with United generating £26.5 million compared to £27.4 million previously—a slight decrease of just 3.3%.
Reacting to United’s financial results, chief executive Omar Berrada said, “The season is now well underway for both our men’s and women’s team, and we are keen to ensure both are as competitive as possible.”
“We are delighted to have appointed Ruben Amorim as head coach of our men’s team and remain committed to returning Manchester United to the top of domestic and European football.”
“Our renovation of the Carrington Training Centre is progressing well, while the Old Trafford Regeneration Task Force continues its work.”
“Once it has delivered its recommendations, we will then take some time to digest them and evaluate all our options in the upcoming year.”
United return to Europa League action on Thursday when they host FK Bodø/Glimt at Old Trafford.
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