Manchester United announce seventh annual loss in latest financial record

Manchester United finished third in the Premier League last season while recording their lowest wage bill in six years (The Athletic).

United spent £302 million on wages during the year, down £11.3m from the previous season. It is the club’s lowest wage bill since 2019/20.

Even without Champions League football, United’s financial position improved thanks to their mid-season resurgence under manager Michael Carrick.

Finishing third was a massive upturn from the previous campaign, when United finished 15th.

United’s operating loss before player sales also dropped to £16m. That was the second consecutive year the figure fell by roughly half, after reaching £59m two years earlier.

Player sales then helped push the club into positive territory before financing costs. United recorded £46.9m in player profits, with Alejandro Garnacho’s £40m move to Chelsea playing a major role.

Earnings before interest and tax (EBIT) reached a £22.6m profit, the club’s first positive figure since before the COVID-19 pandemic. However, United’s overall finances are still weighed down by heavy debt.

The club paid £69.6m in net financing costs during the year, wiping out the EBIT profit and leaving a £43m loss. This was their seventh consecutive year of losses, with almost £450m lost since 2019.

Debt also increased during the year. United refinanced a major portion of their long-term borrowing in June, replacing £320m of senior secured notes due in 2027 with a £415m loan.

That loan carried a higher interest rate of 5.36%, although the refinancing is expected to add around £10m a year to interest costs on that portion of the debt.

United also reduced their use of short-term borrowing, repaying £180m from their revolving credit facility to bring the outstanding amount down to £110m by the end of June.

Their total financial debt still stood at £689m at the end of June 2026, £52m higher than a year earlier.