Manchester United Post Seventh Straight Annual Loss Despite Record £677.6 Million Revenue

Manchester United generated a club-record £677.6 million in revenue during the 2025/26 financial year despite playing no UEFA competition, but still finished with a £43 million net loss — the seventh consecutive year the Premier League club has ended in the red.

Manchester United have reported another annual loss despite achieving record revenue and adjusted EBITDA during the financial year ended June 30, 2026.

Revenue increased 1.7% to £677.6 million, surpassing the previous record of £666.5 million. The result was achieved despite the men's team not participating in European competition.

However, United recorded a net loss of £43 million, up from £33 million a year earlier, marking the club's seventh consecutive annual loss.

Underlying performance improved significantly. Manchester United posted an operating profit of £22.6 million, compared with an £18.4 million operating loss the previous year, while adjusted EBITDA rose 18.4% to a club-record £216.4 million.

Broadcasting revenue increased 19.6% to £206.8 million, helped by the team's third-place Premier League finish compared with 15th the previous season. Commercial revenue declined 4.8% to £317.3 million, while matchday revenue fell 4.2% to £153.5 million due to fewer home fixtures.

The final result was also affected by higher financing costs, which increased to £69.6 million, as well as £8.2 million in exceptional expenses related mainly to restructuring and the departure of former head coach Ruben Amorim.

Manchester United expect revenue to rise again following their return to the Champions League. For the 2026/27 financial year, the club is forecasting £740 million to £760 million in revenue and adjusted EBITDA of between £205 million and £225 million.

The figures show that United's commercial strength and cost-cutting measures are improving operating performance, but the seventh consecutive net loss underlines the remaining financial pressure. The return of Champions League revenue will now be a key test of whether the club can turn record income into sustainable profitability.