Manchester United's latest financial results, released on 11/12, show the club's total debt reached a record 1.73 billion USD, primarily due to continued borrowing. This figure comprises 289.8 million USD in long-term debt and a previous short-term debt of 433.3 million USD.

Short-term debt incurred for club operations soared to an unprecedented 1 billion USD. This increase follows Man Utd borrowing an additional 140 million USD from its revolving credit facility in the most recent quarter, raising total borrowings to 359 million USD. These short-term obligations are due for repayment within one year.

New signings Bryan Mbeumo, Benjamin Sesko, and Matheus Cunha (from left) before Manchester United's friendly match against Fiorentina at Old Trafford, Manchester, England on 8/9. Photo: Premier League

The Old Trafford club has contended with substantial debt since the Glazer family, owners of the NFL's Tampa Bay Buccaneers, acquired Man Utd two decades ago. Over the years, these debts have accumulated, reaching the record levels now reported.

INEOS, the group led by Britain's wealthiest billionaire Jim Ratcliffe, became a minority shareholder in February 2024, purchasing 27.7% of Man Utd's shares for 1.74 billion USD. Since then, Ratcliffe and INEOS have initiated a cost-cutting campaign at Old Trafford, aiming to enhance the club's operational sustainability.

Ratcliffe's restructuring program, which included reductions for nearly 500 staff members, yielded clear results in the report: Man Utd recorded an operating profit of 17.4 million USD in the quarter ending September, a significant turnaround from a 9.4 million USD loss in the same period last year. The wage bill decreased by 8.2%, settling at 98.6 million USD. Player and staff wages now represent 52.5% of the club's total revenue, down from 56% last year. Overall operating costs saw a 7.1% reduction.

However, after deducting 28.6 million USD in financial costs, Man Utd reported a pre-tax loss of 11.2 million USD for this quarter, contrasting with a 2.1 million USD profit a year prior. The operating profit stemmed from 188 million USD in revenue, which marked a 2% decrease compared to the same period in 2024. This reduction was primarily due to the team not participating in European competitions this season and playing two fewer home matches during the period.

Despite net debt surpassing the 1 billion USD mark for the first time, Man Utd CEO Omar Berrada affirmed that the latest financial results indicate "strong progress in the club's transformation process."

"These robust financial results reflect Man Utd's resilience," Berrada stated. "The difficult decisions we made over the past year have created a more sustainable cost structure and a leaner, more efficient organization, capable of driving the club towards better sporting and commercial performance in the long term. This also helps us continue to invest in the men's and women's teams."

Man Utd maintains that the club remains on track to achieve full-year fiscal revenue between 857 million and 870 million USD.