United's total debt remains above £1bn, despite cost-cutting measures implemented by Sir Jim Ratcliffe. The club confirmed record revenues of £677.6m and an operating profit of £22.6m, a significant turnaround from the £113.2m loss in the 2023/24 season.
Finance costs for the year stood at £69.6m, a 228.3 per cent increase. The club attributed this primarily to exchange rate losses. According to football finance expert Kieran Maguire, this figure alone exceeds the £1bn raised from the Glazer family's takeover in 2005. United confirmed it spent £63.5m on land for the new stadium, part of an additional $125 ($94.14m) added to the debt during the summer refinancing. The club did not explain where the remaining funds went, with the stadium itself likely costing more than £2bn.
The club's debt, which stood at £1.3bn at the end of December, remains above £1bn. The historical debt is now £577.6m, with £11.14m outstanding on the revolving credit facility. Unpaid transfer fees account for approximately 75 per cent of the £473m listed as 'trade and other receivables', according to sources within the club.
Fans are angry over what they perceive as an underinvestment in Michael Carrick's first team this summer. United spent £180m on three new signings – Carlos Baleba, Andre, and Youri Tielemans – which is less than a third of the £458m invested by Manchester City, and less than newly promoted Ipswich. Fans are angry that an additional left-back was not signed as a backup to Luke Shaw, who has already missed three matches due to injury, nor has support been provided for Benjamin, whose season has been interrupted by a recurring calf injury.
The club states that additional funds have been allocated for the stadium, which is to be built 350 yards from the current Old Trafford, with the loan recorded in the club's accounts. Executive Director Omar Berrada stated: "We are pleased with the record revenues we have secured." He added that this demonstrates the fundamental strength of the business and the direct impact of work done over the past two years. "Although these results confirm we are on the right track, we will continue to apply a disciplined approach to ensure financial sustainability," Berrada said. "Keeping this in mind, we have strengthened both the men's and women's teams during the summer transfer window, with the men's team welcoming the return of the Champions League to Old Trafford."
The women's team, currently in the Women's Super League, has been criticised for a lack of investment, with the team currently second from bottom with one point from three matches. Ratcliffe had previously stated that the club must take strong measures to reduce losses. Two rounds of redundancies have resulted in 450 people losing their jobs. The club confirmed that wage costs have decreased by £13.6m to £302m. "This is primarily due to changes in the squad of the first team, combined with savings from the reduction in staff numbers implemented over the past two financial years," the club stated. United saved £8.5m from the expected £16.5m in severance pay for former manager Ruben Amorim, after he accepted a job at AC Milan. The club is 12th in the Premier League and has already been eliminated from the EFL Cup, while this season has not seen them play in European competition for the first time in a decade.
