Man Utd post £43m loss despite record £677.6m revenue

Manchester United have lost money for the seventh year in a row, despite bringing in more cash than ever before.

The club reported a net loss of £43m for the year ended 30 June 2026, widening from £33m a year earlier. Revenue hit a record £677.6m, up 1.7% on the previous year, according to The Guardian.

That rise was worth £11.1m in total, Manchester United's 4Q26 earnings release shows. It was not enough to push United into profit. The club has now lost nearly £190m since the start of fiscal 2024.

Part of the shortfall came from change in the dugout. United booked an exceptional cost of £8.2m linked to Ruben Amorim's departure as head coach in January and a wider restructuring.

The final bill was lower than first feared. United had initially put the cost of Amorim and his staff leaving at £16.7m in third-quarter results published in May. That exposure fell after Amorim took the head coach job at Milan.

United did tighten the wage bill. It fell to £302m, down £11.3m or 3.6% on the year before. That is the money paid in player and staff salaries, still the biggest single cost at any leading club.

On the pitch, the season ended well. United finished third in the Premier League under Michael Carrick and secured a return to the Champions League. European football's top club competition brings far larger broadcast and matchday payments than its sister tournaments.

That return drives the forecast. United expect record revenue of between £740m and £760m for fiscal 2027, helped by Champions League income.

For fans, this means two stories running side by side. The team is winning again under Carrick, while the accounts are still catching up. Chief executive Omar Berrada and minority shareholder Sir Jim Ratcliffe, who leads football operations, have made cutting costs a clear priority.

Investors noticed both halves. United's New York-listed shares had gained almost 24% in 2026 before the results, then fell 3% in US premarket trading on results day.