Manchester United chief executive Omar Berrada insists the club’s sweeping restructuring is delivering results, even as debt edges towards £1.3bn.
The Old Trafford giants posted an operating profit of £32.6m for the six months ending 31 December 2025. That marks a sharp turnaround from the £3.9m loss recorded during the same period last year.
However, the club also accessed another £25m from its revolving credit line, now totalling £295.7m. When combined with legacy borrowings from the Glazer takeover and over £500m in outstanding transfer liabilities, total obligations reached £1.29bn by year’s end.
Although net finance costs dropped to £13.9m from £37.6m, the broader debt picture remains sobering.
Profit growth, revenue shifts and Champions League urgency
In August 2025, Swiss Ramble ranked Everton and Tottenham above Manchester United in his debt table, largely due to stadium financing.
United, meanwhile, have yet to outline funding plans for a proposed £2bn-plus new ground. Consequently, returning to the Champions League after two absent seasons has become financially crucial.
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Total revenue stood at £190.3m, with commercial income falling eight percent to £78.5m. Wages, however, decreased nine percent to £75.1m, reflecting Sir Jim Ratcliffe’s aggressive cost-cutting since acquiring a 29 percent stake. Two redundancy rounds eliminated 450 roles, while several staff benefits were withdrawn to redirect funds toward data development.
“We are now seeing the positive financial impact of our off-pitch transformation materialise both in our costs and profitability,” said Berrada.
“We continue to take a football-first approach and today’s results demonstrate the underlying strength of our business as we continue to push for the best football results possible for our men’s and women’s teams.”
Tags: Manchester United, #GGMU, #MUFC, Omar Berrada, Swiss Ramble, Everton, Old Trafford, Sir Jim Ratcliffe.
