Manchester United have taken a £22m hit from the sacking of former manager Ruben Amorim, but halved their pre-tax losses to £18m in the first nine months of the year, thanks to improved on-pitch performance and cost-cutting by co-owner Jim Ratcliffe.
The club's successful pursuit of Champions League football under Michael Carrick drove a 57% rise in broadcast income in the third quarter to nearly £65m. This helped increase the full-year revenue forecast to between £655m and £665m, up from the previous £640m-£660m.
Cost-cutting measures since Ratcliffe's 2024 minority stake include hundreds of staff redundancies, closure of the staff canteen, and replacing free lunches with fruit. Operating expenses fell by £19m to £525m for the first nine months, but this was offset by the £22m cost of sacking Amorim, comprising a £16.7m payoff and £5.2m in non-cash contract write-offs.
Football finance expert Stefan Borson said: 'The cost of removing managers continues to haunt the club.' On an operating basis, the club reported a £37.7m profit, compared with a £3.2m loss a year earlier. However, overall pre-tax losses of £18m included £20m in debt interest payments.
Borson described the results as 'a solid set of numbers with few surprises', noting that the £655m-£665m revenue forecast is a 'base case' given the lack of European football or a training kit sponsor this season. Next season, Betway will sponsor training kits in a deal worth £20m, and Champions League qualification could earn an additional £80m.
