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Man Utd financial results: Key takeaways for fans and why they matter
Robin Bairner
- Updated: 17 Sept 2025 15:03 BST
- 4 min read
News
Manchester United’s financial results for the financial year 2023/24 have been revealed, with these having a major bearing on the future of the club on the field.
United are coming off a summer transfer window in which €250 million was spent on strengthening the first-team squad, with the majority of this money funnelled into improving the attack.
But will owners Ineos and the Glazers be able to continue making signings such as Bryan Mbeumo, Benjamin Sesko and Matheus Cunha? Here’s what we’ve learned based on the most recent set of financial results, with five key takeaways and what they mean for Ruben Amorim’s side.
Record revenue as loss drops
Man Utd have recorded record revenues, with the club’s income hitting £666.5m. While this is positive, it’s not a leap forward. This figure has only increased 0.7% over the course of the last year – but the operating loss did drop to £18.4m from £69.3m.
Why it matters: INEOS will feel they are starting to get a handle on the finances of the club, which has posted a record revenue in a season that was uniquely poor.
Europa League hits United in the pocket
Playing in the Europa League was an expensive business for Man Utd. Indeed, it cost the Red Devils £30 million in missed television revenue last season compared to playing in the Champions League.
Out of Europe entirely this season, United will see this figure drop even further.
Why it matters: Less money to spend on players and wages.
Big spending continues on transfers
United continue to splash out on transfer fees. During the 2023/24 season, they paid £190m in amortising deals that had previously been made. However, there is still more than £400m outstanding in unpaid fees for signings.
Why it matters: United are still showing a willingness to make big-money transfer deals.
Debt not yet under control
Debt has been a long-term burden of the club since the Glazers took over and that remains an issue for United. The figure outstanding that is still owed by the Old Trafford outfit sits at around £511m – pretty much unchanged from last year.
Why it matters: Man Utd are still paying enormous debt-servicing costs – money that could be better spent elsewhere.
Cost cuts start to have an impact
Sir Jim Ratcliffe’s controversial cost-cutting measures are set to save the club a sizeable sum. Estimates suggest that Man Utd’s expenditure will go down £40-45m over the course of the 2025/26 season.
Why it matters: Ratcliffe sees this as wastage that could be more efficiently spent on wages, facilities or even transfer fees.
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