Manchester United’s 2025-26 accounts show its wage bill fell £11.3m (4%) to £302m, the lowest since 2019-20, while revenue hit a record £677.6m, largely on the back of a third-place Premier League finish. The club still posted a £43m loss.
United generated record revenue despite playing no European football and having no training-kit sponsor. Premier League prize money topped £190m, up £55m from 2024-25, while broadcasting income rose £33.7m (19%). Retail and merchandising income also grew £11.9m (8%), helped by a full year of the club’s in-house e-commerce model and a one-off credit.
Before player sales, United had a £16m operating loss. £46.9m in player-sale profits—mainly from Alejandro Garnacho’s sale to Chelsea—put earnings before interest and tax at £22.6m in profit. Net financing costs of £69.6m, driven by debt, erased that surplus. Financial debt stood at £689m at the end of June 2026, up £52m year on year. In June, United refinanced $425m in notes due in June 2027 with a $550m loan at 5.36%, up from 3.79%; the higher rate will add about $13.3m (£10m) in annual interest on that tranche.
