Man United hit by £7m blow - confirmed

James holds a degree in Sports Journalism and Communications (MA) from the Real Madrid Graduate School. He has experience working for a number of local news outlets as well as the Sunday Mirror and Real Madrid TV. James is from Scunthorpe and has an affinity with Scunthorpe United, but is also a huge West Ham supporter and an expert on all things to do with the Hammers. He started working for Breaking Media in July 2023, initially writing on the Club Sites, where he specialised in West Ham content, before moving to Football Insider – where he is now an expert in football finance, speaking regularly with Stefan Borson and Keith Wyness to generate high-quality content in all things related to finance in the Premier League, Football League, and Scottish Premiership.

Published on:

28 Nov 2024, 1:30 am

Manchester United made a £6.9million operating loss for the first quarter of the 2024-25 financial year following their failure to qualify for the Champions League, sources have told Football Insider.

The Premier League side have released their first-quarter accounts ending 30 September, revealing their overall revenue fell to £143.1million down from £157.1million for the same period last year.

That was largely driven by a drop in broadcasting revenue across the quarter due to their lack of Champions League football, having brought in £31.3million compared to last year’s £39.3million.

Man United are competing in the Europa League this season following their FA Cup final victory over Manchester City, but there is less money on offer to participating clubs compared to the riches of the Champions League.

The club’s commercial revenue also dropped from £90.4million to £85.3million in the quarter, while their matchday revenue slipped from £27.4million to £26.5million.

United noted an exceptional cost of £8.6million, which they said "comprises costs incurred in relation to the restructuring of the group's operations, including the redundancy scheme implemented in the first quarter of financial year 2025".

The Manchester giants expect to make between £650-£670million in revenue across this financial year after posting a club-record figure of £661.8million for 2023-24.

Man United exceptional costs to rise after Erik ten Hag sacking

United’s new CEO Omar Berrada said the club’s cost and headcount reductions “remain on track” and they are “pleased to have seen further commercial traction” across the first quarter.

He added that the Carrington Training Centre renovation is “progressing well” and the task force considering the stadium plans is continuing its work ahead of a decision being made on the future of Old Trafford.

United have since decided to part ways with Erik ten Hag and appoint Ruben Amorim as their new manager since the end of the first quarter.

The compensation figures for that managerial change will be revealed in the next set of quarterly accounts, with their exceptional costs for the campaign to increase further.

(Credit: Getty Images)

Finance expert Stefan Borson told Football Insider United will have spent up to £37.5million on sacking Ten Hag and appointing Amorim.

The Portuguese boss took charge of his new side for the first time in the 1-1 draw against Ipswich Town on Sunday (24 November), leaving them sitting 12th in the Premier League table.

In other news, Ruben Amorim makes Joshua Zirkzee decision at Man United.

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