The fabled club will be cutting back even further.
As the club itself admits, Manchester United has suffered “five consecutive years of financial losses since 2019.” Now, for the second quarter of 2025, the club is reporting a drop in overall revenue of 12.0 percent, from £225.8 million to £198.7 million (€272.9m to €240.1m). The biggest shortfall here was in broadcasting revenue, which plummeted 42.1 percent to £61.6 million (€74.4m). Commercial and matchday revenue both rose, by 18.5 and 9.2 percent respectively, to £85.1 and £52.0 million (€103m and €62.8m).
Adjusted Ebitda for the period amounted to £70.5 million (€85.2m), down 22.9 percent, and operating profit fell to £3.1 million ($3.7m), down 88.7 percent.
The collapse in broadcast revenues, the club attributes to a change from competing last year in the UEFA Champions League, with its record broadcast revenues, to competing this year in the UEFA Europa League.
For the first half, overall revenues were down 10.7 percent to £341.8 million (€413.0m), adjusted Ebitda down 17.9 percent to £94.2 million (€114m) and operating profit down 112.9 percent to a negative £3.8 million (-€4.6m).
The club has been implementing a “transformation plan” since Jim Ratcliffe – founder, Chairman and CEO of the chemical company INEOS – purchased his initial stake, of 27.7 percent, for £1.25 billion (€1.51bn), with a pledge to invest another £237 million (€286m) into the club’s home stadium, Old Trafford. He has since increased his stake to 28.94 percent, for £79 million (€95m), and pledged to invest an additional £100 million (€121m) by the end of this year.
The Telegraph reported on Feb. 11 that the club was preparing to fire 100 employees – this after the firing of 250 over the previous summer. It is now, according to various reports, preparing to double that number. At present, the club appears to employ somewhat more than 1,000 people, making it one of the Premier League clubs with the largest staffs.
