- Manchester United reports a net loss of £113.2 million for the 2023/24 season, marking five consecutive years of financial losses
- Despite record revenues of £661.8 million, the club faces challenges, finishing eighth in the Premier League and restructuring management
Despite achieving record revenues, Manchester United reported a net loss of £113.2 million ($148 million) for the 2023/24 season. This marks the fifth consecutive year the club has posted losses.
For the year ending June 30, 2024, Manchester United recorded revenues of £661.8 million, an increase of 2.1%, driven by record commercial and matchday income. However, the club incurred £47.8 million in “exceptional items,” primarily related to Jim Ratcliffe’s finalized purchase of a minority stake in February.
During the 2023/24 season, Manchester United finished eighth in the Premier League — their lowest league finish since 1990 — and were eliminated at the Champions League group stage. Despite these setbacks, Erik Ten Hag’s team won the FA Cup, defeating Manchester City in the final at Wembley, securing their second trophy in two years.
The club has undergone significant changes in its management structure, including appointing a new chief executive, Omar Berrada, who was brought in from Premier League champions Manchester City. Berrada commented on his new role, saying, “As I embark on my new role as chief executive officer of this historic club, we are all extremely focused on working collectively to create a bright future with football success at the heart of it. We are working towards greater financial sustainability and making changes to our operations to make them more efficient, to ensure we are directing our resources to enhance on-pitch performance.”
The Premier League’s profitability and sustainability rules permit a maximum loss of £105 million over a three-season period. However, certain expenses, such as infrastructure, youth team, and women’s team spending, are considered “allowable” losses. Last season, Everton and Nottingham Forest both faced points deductions after being found in breach of these rules.
Manchester United, who have started the new Premier League season with two defeats in their first three matches, will return to action against Southampton on Saturday.