Manchester United has announced an operating loss of £6.9 million (US$8.7 million) for the first quarter of the 2024/25 financial year, citing the absence from the Champions League and costs related to a redundancy programme as key factors.
The club’s eighth-place finish last season under former manager Erik ten Hag, their lowest-ever in the Premier League, left them out of Europe’s elite competition. This led to a 20.4% drop in broadcasting revenue, which fell to £31.3 million (US$39.4 million) for the quarter ending 30th September, compared to £39.3 million (US$49.5 million) for the same period last year.
United’s participation in the Europa League this season has not offset the financial impact of missing the Champions League. Commercial revenue also decreased by 5.6%, from £90.4 million (US$114 million) to £85.3 million (US$107 million), while matchday revenue dipped 3.3% to £26.5 million (US$33.4 million).
The club reported exceptional costs of £8.6 million (US$10.8 million) related to its restructuring programme, including a redundancy scheme, which is expected to save £40–45 million (US$50.4–56.7 million) over the next two years.
Despite the losses, the club remains confident about meeting the Premier League’s profitability and sustainability rules, which allow for maximum non-permitted losses of £105 million (US$132 million) over three seasons. Manchester United ended the previous financial year with a net loss of £113.2 million (US$143 million).
On the expenditure front, the club’s wage bill dropped 11.2% to £80.2 million (US$101 million) for the quarter, attributed to changes in the first-team squad.
Chief executive Omar Berrada reaffirmed the club’s commitment to cost reductions and ongoing investments, including renovations at the Carrington training ground. He also confirmed progress by a taskforce assessing whether to redevelop Old Trafford or build a new stadium nearby.
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