Man Utd financial results: Revenues down 12%, cost of sacking Erik ten Hag and Dan Ashworth affect profits
United’s revenue fell 12% in the last fiscal quarter as the cost of firing former manager Erik Ten Hag hit profits.
The club announced on Wednesday that revenues were £197 million in the last three months of 2024, down from £225.8 million in the same period 12 months ago.
Reduced drivers’ broadcast revenue fell 42 per cent, from £106.4 million to £61.6 million.
The club said it was Manchester United’s match in the Europa League compared to the 2023-24 Europa League.
Overall, the club’s operating profit was £3.1 million, down from £27.5 million in the same period in 2023, but Manchester United said the club’s debt increased from £506.6 million to £515.7 million due to “adverse” exchange rate changes.
The results included a £14.5 million “Excellent Project” figure, with £10.4 million being used to fire ten partners and his coaching staff in October, while former sports director Dan Ashworth set out in December £4.1 million.
Business revenue grew from £71.8 million to £85.1 million, an increase of 18.5 per cent due to a shirt partnership with Snapdragon.
“We recognize the challenges in improving the league positions of the men’s team and we are all working to achieve that,” said Manchester United CEO Omar Berrada.
Bellada said the club’s reconstruction of the training ground was “on the right track”.
In Manchester United’s latest financial results, there is no special mention of the £11 million cost of appointing new head coach Ruben Amorim and his staff.
Costs are being allocated to their two and a half years of contract, the joint source said.
The club paid the amount to activate Amorim’s release clause in the contract and Portuguese clothing sports for the 2024-25 season.
