Manchester United on Friday revised its annual core profit forecast upward to between £180 million and £190 million, crediting a strong Europa League campaign for the financial boost.
The club’s updated projection for adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) marks a significant increase from its previous estimate of £145 million to £160 million. The figures exclude one-off items like player sales and financing costs.
Ruben Amorim’s side reached the final of the UEFA Europa League, ultimately losing 1-0 to Tottenham. Despite the cup run, United endured one of their worst Premier League seasons in over half a century, finishing a dismal 15th—its lowest top-flight position in more than 50 years.
Still, the European campaign drove a 17.4% year-on-year revenue increase for the quarter ending March 31, pushing total revenue to £160.5 million. Matchday earnings alone surged over 50% to £44.5 million, helped by an increased number of home games.
Operating costs were reduced by 20.4%, largely due to a lower wage bill—resulting from the club’s participation in the Europa League rather than the Champions League—as well as the January loan departures of Marcus Rashford and Antony. A cost-cutting redundancy programme targeting non-playing staff, initiated under minority owner Sir Jim Ratcliffe, also contributed.
United CEO Omar Berrada acknowledged the financial upswing but stressed the need for performance improvements on the pitch.
“We were proud to reach the final of the UEFA Europa League, but ultimately disappointed to finish as runners-up in Bilbao,” Berrada said. “We had a difficult season in the Premier League, which fell below our standards, and there is a clear expectation of improvement next season.”
Head coach Ruben Amorim has already begun a significant squad overhaul, with major player movements expected in the summer transfer window. United have moved quickly, securing the £62.5 million signing of Wolves forward Matheus Cunha and expressing strong interest in Brentford winger Bryan Mbeumo.
More changes are anticipated as the club looks to rebuild and return to competitive form both domestically and in Europe.
