Manchester United’s debts reach £1.3 billion despite a profit of £33 million

However, combined with legacy debt resulting from the Glazer family takeover and additional ‘liabilities’ listed at more than £500m – the vast majority of which are outstanding transfer fee payments – the club was owed a staggering £1.29bn at the end of last year.

United also paid £13.9m in net financing costs, although this was significantly less than the £37.6m of the previous year.

In August 2025, respected football finance blogger Swiss Rumble placed Everton and Tottenham above Manchester United in his debt league. However, both clubs borrowed to pay for new stadiums.

United are yet to clarify how they intend to finance their new stadium, which is likely to cost more than £2bn, although figures show why the club is keen to return to the Champions League after a two-year absence.

Total revenues for the period in question were £190.3 million, with commercial revenues down 8% on the previous 12 months to £78.5 million. However, wages also fell by 9% to £75.1m.

Since taking a 29% stake in the club two years ago, Sir Jim Ratcliffe has instigated significant cost cuts, including two rounds of redundancies that saw 450 jobs cut.

In addition, many employee benefits, including a paid employee canteen, have been eliminated.

United sources say this has allowed more investment into the data side of the club.

There was no mention in the financial statement of the amount United paid to sack coach Ruben Amorim because that happened after the reporting period.

“We are now seeing the positive financial impact of our off-field transformation manifest in our costs and profitability,” Berrada said.

“We continue to take a football-first approach and today’s results demonstrate the fundamental strength of our business as we continue to push for the best possible results in football for our men’s and women’s teams.”