Man Utd reveal first quarter statements as profit and debt rise with operating profit up after £7m loss a year earlier.
Man Utd first-quarter profits rise to £13m but debt reaches £1.29bn.
Manchester United’s operating profit increased to £13 million in the first quarter of the fiscal year from an equivalent £7 million deficit a year earlier. Omar Berrada, the CEO, attributed this to “the difficult decisions made in the past year” by Sir Jim Ratcliffe.
But now, United’s overall debt has reached a record £1.29 billion. The club’s revolving credit increased by £35.7 million to £268 million, while noncurrent borrowings remained at £650 million. United’s income was £140.3 million, down from £143.1 million a year earlier.
Ratcliffe has made roughly 450 layoffs since taking over as the largest minority owner in February 2024, bringing the total number of employees to about 800.
Berrada said: “These robust financial results reflect the resilience of Manchester United as we make strong progress in our transformation of the club. The difficult decisions we have made in the past year have resulted in a sustainably lower cost base and a more streamlined, effective organisation equipped to drive the club towards improved sporting and commercial performance over the long term. That has helped us to invest in our men’s and women’s teams, sitting in sixth and third places in the Premier League and Women’s Super League respectively.”
Due to the loss of a training gear partner following the termination of United’s agreement with Tezos, the club’s cash and cash equivalents dropped to £80.5m from £149.6m and sponsorship revenue was £47m, a 9.3% decline. It is thought that fruitful talks about training outfit sponsorship are still ongoing with potential partners.