Manchester United: Ratcliffe’s cuts take club from red to black
Manchester United CEO Omar Berrada has hailed the impact of Sir Jim Ratcliffe’s cost-cutting after the club reported only their second profitable quarter since 2023.
Co-owner Ratcliffe’s slashing of hundreds of jobs at Old Trafford helped United to a pre-tax profit of £5.6m in the three months to 31 December, compared with a £34.5m loss a year earlier.
It was United’s first profitable results since the three months up to 30 September and only their second in the last 10 quarters, amid losses totalling £350m in the last four years.
“We are now seeing the positive financial impact of our off-pitch transformation materialise both in our costs and profitability,” said Berrada.
United’s return to the black came despite an £8.4m year-on-year drop in revenue to £190.3m for Q2 2026. Falling commercial revenue, after a training kit sponsorship deal with Tezos was not replaced, was the biggest factor.
For the six months ending 31 December, United made a pre-tax loss of £2.8m, a swing of £30m from the significant losses in the first half of last season. Revenue for Q1 and Q2 combined was down £11m year-on-year.
Champions League absence hits United revenue
United’s broadcast revenue for this season will be significantly lower than that of the Premier League’s top teams due to their absence from the lucrative Champions League or even the lower-tier European competitions.
“We continue to take a football first approach and invest in both our men’s and women’s first teams,” Berrada added.
“On the pitch our men’s team sits fourth in the Premier League and our women’s team are second in the Women’s Super League, as well as reaching the League Cup Final and the quarter final of the UEFA Women’s Champions League.
“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.”