Manchester United, sleeping giants from English men's soccer's top-tier Premier League, registered an operating profit of £13 million ($17.4 million) during the first quarter of the 2026 fiscal year.
The Manchester club reported its financial results for the three months up to September 30, 2025, yesterday – this operating profit is a significant year-on-year improvement from the loss of almost £7 million sustained during Q1 of the 2025 fiscal year.
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The quarterly profit comes with the club's owners, Sir Jim Ratcliffe and the Ineos petro-chemicals giant, having implemented a campaign of ruthless cost-cutting and staff downsizing over the last 18 months.
Revenue decreased year-on-year, meanwhile, from £143.1 million to £140.3 million, as all three major streams – commercial, broadcasting, and matchday – fell.
The biggest drop was in broadcast revenue, which fell from £31.3 million to £29.9 million, with United not competing in any pan-European UEFA competition this season (they competed in the second-tier Europa League last campaign).
EBITDA (earnings before interest, taxation, depreciation, and amortization), however, jumped by 13.5% year-on-year, from £23.7 million to £26.9 million.
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By GlobalDataThis was primarily because of a 7.1% decrease in operating expenses from the prior year, with outgoings amounting to £172.4 million.
Omar Berrada, Manchester United's chief executive, has said: "The difficult decisions we have made in the past year have resulted in a sustainably lower cost base and a more streamlined, effective organisation equipped to drive the club towards improved sporting and commercial performance over the long term."
In terms of the club's outlook for the 2026 fiscal year as a whole, meanwhile, that has remained steady at between £640 million and £660 million of revenue, and between £180 million and £200 million (EBITDA).
On the pitch, United currently lie sixth in the 20-team Premier League, with 15 matches out of 38 played, while the women's team sit third in the 12-team Women's Super League.
In terms of commercial activity during the three-month period, deals with both Canon Medical Systems and Concha y Toro were extended.
Ineos and Ratcliffe became minority owners in a deal completed last February, acquiring an initial 27.7% for £1.3 billion.
Several major redundancy schemes have been put into operation since then, alongside a reduction in player wage costs. Ratcliffe has previously claimed this has all been necessary to keep the club afloat, despite revenue having reached record levels last season.
As for the club's total debt, this has now risen to just over £1 billion, its highest level since the Florida-based Glazer family (which still owns a majority stake) took over United in 2005.
