Manchester United’s absence from the Champions League this season and the costs associated with their retrenchment plan have contributed to the club making an operating loss of £6.9m for the first quarter of the 2024-25 financial year.
United finished eighth under former manager Erik ten Hag last season, their lowest ever Premier League finish, missing out on Europe’s top club competition.
This led to a 20.4 per cent drop in broadcast revenue (£31.3m) in the quarter ending September 30 compared to the corresponding quarter last year (£39.3m).
United’s FA Cup triumph last season means they are competing in this season’s Europa League instead.
Man Utd beat Manchester City to lift the FA Cup in May
Trading revenues also fell 5.6 per cent in the quarter, from £90.4m to £85.3m, with matchday revenue down 3.3 per cent from £27.4m to £26.5m.
The club recorded an exceptional charge of £8.6m in these figures, which they said “includes costs related to the restructuring of the group’s operations, including the redundancy scheme implemented in the first quarter of the 2025 financial year”.
United previously said it expected the restructuring to result in savings of between £40m and £45m, which it expects to have a positive impact on its bottom line for 2025 and 2026.
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Gary Neville says Manchester United’s lack of energy against Ipswich Town is down to Ruben Amorim.
United made a profit of £1.9m in the same quarter last year, but ended the period with a net loss of £113.2m.
The club said in September that they were confident they were in compliance with the Premier League’s profitability and sustainability rules, which allow for maximum unallowable losses of £105m over three seasons.
United’s wage bill fell by £10.1m to £80.2m in the quarter, with the club attributing the 11.2 per cent drop “mainly to changes in the first-team squad”.
Sir Jim Ratcliffe acquired a minority stake in Manchester United last February
The club’s chief executive, Omar Berada, said United’s spending and staff cuts remain “on track”, along with renovation work at the club’s Carrington Stadium.
He confirmed that a task force weighing up the merits of redeveloping Old Trafford or building a new stadium on adjacent land was continuing its work.
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Manchester United defenders Harry Maguire and Nusair Mazraui have reflected on Ruben Amorim’s first game in charge of the Red Devils and insist there will be improvements after the clubs worst start to a Premier League season after 12 games.
“When it presents its recommendations, we will take some time to digest them and evaluate all our options for the coming year,” Berada said.
The task force is chaired by World Athletics chairman Lord Coe and includes former United defender Gary Neville.
The club predicts total revenue for 2025 of between £650m and £670m.
