Manchester United's Financial Transformation: Operating Profit Rises Amidst Soaring Debt

Thu, 26 Feb 2026, 11:33 WIB | By Basuki Eka Purnama | Source: MEDIA_INDONESIA | Bisnis

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The write-off of outstanding dues needs to be realized first while considering economic conditions.

MANCHESTER United is starting to feel the positive impact of operational restructuring off the field.

According to financial reports for the six months ending December 31, 2025, the club recorded an operating profit of £32.6 million.

This figure represents a significant increase compared to the same period last year, when the club suffered a loss of £3.9 million.

Manchester United CEO Omar Berrada emphasized that the implemented strategy changes are starting to bear fruit.

“We are now seeing the positive financial impact of our off-field transformation, both in terms of costs and profitability,” said Berrada.

The success in turning losses into profits is inseparable from the strict efficiency policies implemented under the direction of Sir Jim Ratcliffe over the past two years.

A number of cost-saving measures have been taken, including cutting around 450 jobs and eliminating several employee facilities.

This policy has had a direct impact on the club’s payroll burden, which fell 9% to £75.1 million. Conversely, commercial revenue recorded a decrease of 8% to £78.5 million during the period.

However, behind the improvement in operational profitability, Manchester United’s long-term financial challenges remain significant.

The total debt of the Red Devils now reaches a fantastic figure, namely £1.29 billion. The debt consists of the remaining debt from the Glazer family’s takeover era, transfer liabilities of more than £500 million, and an additional £25 million on the revolving credit facility, which now reaches £295.7 million.

On the other hand, the club must also start thinking about funding for the new stadium construction project, which is projected to cost more than £2 billion.

Although net financial expenses fell to £13.9 million from £37.6 million previously, management is still required to continue maintaining stable business performance, especially with the main goal of returning to compete in the Champions League.

For the club, this financial discipline is considered key to supporting long-term strategy.

“We continue to take a football-first approach, and today’s results show the underlying strength of our business as we continue to strive to achieve the best football results for our men’s and women’s teams,” added Berrada.

In this situation, the club is also still looking at the future of the squad, including player management such as Marcus Rashford, who is currently on loan at Barcelona.

Decisions regarding the main team personnel, combined with the transition after coach Ruben Amorim’s leadership, will be part of the challenges that management must resolve to ensure that financial efficiency is in line with performance targets on the field. (bbc/Z-1)

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