Manchester United post record £677.6m revenue for 2026 despite £43m loss and no European football
Red Devils smash revenue record but still finish in the red
Manchester United have announced record revenues for 2026, even though they spent last season outside of European competition. Figures in the club's latest report show turnover of £677.6m for the fiscal year, up from the previous high of £666.5m set in 2025.
The headline numbers come with a caveat, however. United recorded a pre-tax loss of £43m over the course of the year, worse than the £33m deficit posted previously. The club did, though, turn an operating profit of £22.6m having generated a loss of £18.4m the year before — a swing credited to “the benefits of operating cost and headcount reductions previously implemented, combined with improved Premier League performance.”
Carrick revival drives on-pitch improvement
The Red Devils secured a third-place finish in the Premier League last season, largely thanks to a turnaround under then interim boss Michael Carrick, who won 11 of his 16 games in charge during the second half of the campaign. That represented a dramatic improvement on the 15th-place finish the year prior, a season in which the club also lost the Europa League final to Tottenham.
Earnings before interest, taxes, depreciation and amortization (EBITDA) rose by 18.4 per cent from the 2025 fiscal year. There was, however, a softer finish to the year: fourth-quarter revenue and EBITDA dropped from £164.1m and £37.5m respectively to £157.5m and £28.9m.
Stadium land secured as Amorim exit cuts costs
It was also confirmed that United have secured the land required to build a proposed new 100,000-seater stadium. It had been reported in June that the club had secured the “majority” of the site and that while work remained to acquire the rest, no issues were expected.
United also saved more than £8m thanks to former boss Ruben Amorim joining AC Milan. Amorim and his coaching staff were due a pay-out of £16.7m for their sacking, but that figure was cut by more than half upon his appointment at the San Siro.
Berrada: ‘We are on the right trajectory’
Commenting on the results, chief executive Omar Berrada said the record revenue demonstrated “the underlying strength of our business” while promising a disciplined approach to ensure financial stability.
“This shows the direct impact of the work we have been doing over the past two years. It also proves Manchester United's enduring popularity and commercial strength. While these results confirm that we are on the right trajectory, we will continue to take a disciplined approach to ensure our finances remain sustainable.
“With that financial sustainability in mind, we have strengthened both our men's and women's teams during the summer window and our men's team has seen the return of Champions League football to Old Trafford.
“Our other main area of focus is our plan to develop a new 100,000 seater stadium. We have now completed the major milestone of securing the land which will form part of the proposed location of the new stadium.”