Big club effect: Manchester United posts profit despite £1,3bn debt

Manchester United, one of the biggest clubs in the world, is showing that even with huge debt and a lack of trophies, it is possible to make a profit.

The Old Trafford club made an operating profit of £32,6m in the last six months of 2025, while the club's total debt is now threatening to exceed £1,29bn. Chief executive Omar Berrada says the financial results are a direct result of an "off-pitch transformation" that is changing the way the club operates and paving the way for new sporting successes.

Profit versus last year's loss

Compared to the same period last year, when a loss of £3,9m was recorded, revenues are now higher and costs are carefully cut. The club has drawn down an additional £25m on its credit line, which now stands at £295,7m.

However, Manchester United still faces inherited debt from the Glazer family and additional liabilities of more than £500 million - mostly outstanding transfer obligations to other clubs.

Finance and savings

The club's total revenue in this period was £190,3m, while commercial income fell 8% to £78,5m and wages were reduced 9% to £75,1m.

Since Jim Ratcliffe, one of Britain's richest men, took a 29% stake in the club two years ago, major austerity measures have been introduced, including two rounds of layoffs that have reduced the number of employees by 450. Many benefits, including a paid canteen, have also been abolished, the BBC reports.

Club sources say this has enabled greater investment in analytics and data, which should support the sporting success of both the men's and women's teams.

New stadium and future challenges

The financial statement does not include the amount the club paid for the dismissal of head coach Ruben Amorim, as the dismissal occurred after the reporting period.

Executive Director Omar Berada stated:

"We are now seeing the positive financial effects of our off-field transformation, both in cost reduction and profitability. We continue to approach the club with a football-first approach, and today's results demonstrate the strength of our business as we strive for the best results for both the men's and women's teams."

The club has not yet specified how it will finance the new stadium, the construction of which could exceed two billion pounds, but it is clear why returning to the Champions League after a two-year break is one of its key priorities.