MANCHESTER: Manchester United posted record revenues in their latest annual accounts despite missing out on Champions League soccer and enduring their its worst-ever Premier League campaign.
But despite revenues of 666.5 million pounds ($910 million) the 20-time English champion still reported losses of 33 million pounds ($45 million).
“To have generated record revenues during such a challenging year for the club demonstrate the resilience which is a hallmark of Manchester United,” chief executive Omar Berrada said.
The accounts for the year ending June 30, 2025, came after minority owner Jim Ratcliffe embarked on cost-cutting measures, which have seen two rounds of job cuts with an estimated reduction of more than 400 members of staff, as well as ticket price hikes.
United told fans in January they could not sustain their losses and Ratcliffe later said the club were in danger of running out of money by the end of the year.
Losses fell from 113.2 million pounds to 33 million.
United’s commercial strength comes despite their ongoing troubles on the field, which have seen them struggle to keep pace with Premier League rivals like Liverpool, Manchester City and Arsenal.
They did not play in the lucrative Champions League last season and finished 15th in England’s 20-team top division — their lowest since the inception of the Premier League in 1992.
They also recorded their lowest points total and highest number of losses, which led to them failing to qualify for any European soccer competition this season.
United have not won the league title since Alex Ferguson retired in 2013.
This season has not started well either, with Ruben Amorim’s team only winning one of four games and having been eliminated from the English League Cup by fourth-tier Grimsby Town.
“As we settle into the 2025-26 season, we are working hard to improve the club in all areas,” Berrada said. “As we start to feel the benefits of our cost-reduction program, there is significant potential for improved financial performance, which will, in turn, support our overriding priority: success on the pitch.”
United said costs of 36.6 million ($50 million) included the departure of former manager Erik ten Hag, who was fired last October.
United’s principal debt remains at $650 million.
Man United post record revenues but are still making losses
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Man United post record revenues but are still making losses
- Despite revenues of $910m the 20-time English champion still reported losses of $45m
- Losses fell from 113.2 million pounds to 33 million
Postecoglou admits taking Nottingham Forest post a ‘bad decision’
- Postecoglou, 60, was appointed as Nuno Espirito Santo’s successor in September
- “There’s no point me blaming it on ‘I didn’t get time’ or anything,” said Postecoglou
LONDON: Ange Postecoglou has said he has only himself to blame for an extraordinarily brief reign as Nottingham Forest manager, with the Australian accepting he made “a bad decision” taking on the job with the Premier League strugglers.
Postecoglou, 60, was appointed as Nuno Espirito Santo’s successor in September.
But infamously impatient Forest owner Evangelos Marinakis sacked Postecoglou just 39 days later, after the experienced manager lost six of his eight games in charge.
Postecoglou, reflecting on his time at Forest for the Overlap podcast, said an over-eagerness to get back into management after his departure from Tottenham Hotspur three months earlier, had been the root cause of his troubles at the City Ground.
“There’s no point me blaming it on ‘I didn’t get time’ or anything,” said Postecoglou. “I should never have gone in there. That was on me. That was a bad decision by me to go in there. I’ve got to take ownership of that.
“It was too soon after Tottenham. I was taking over at a time where they were kind of used to doing things a certain way and I’m obviously going to do things differently. I’ve got to cop that, that was my mistake. It’s no-one else’s fault.”
Postecoglou remains without a club but he has ruled out returning to Celtic, where he enjoyed a successful two-year stint from 2021-23, with the 73-year-old Martin O’Neill currently in caretaker charge of the Scottish champions until the end of the season.
“I loved Celtic, it’s a wonderful football club,” said Postecoglou, who left the Glasgow giants to join Spurs. “If I was younger, I probably would have stayed there longer. I probably would have stayed there three, four years.
“I think I could have made progress with them in Europe but at the time, it had taken me a long time to get to this sort of space, and the opportunity to join Tottenham was too good.
“In terms of going back, I don’t go back. I just don’t think that’s kind of been my career.
“Whatever the next step is, it’ll be something new, somewhere I can make an impact in, somewhere I can win things, but it doesn’t diminish the affection I have for Celtic.”
