Manchester United’s transformation plan produces quarterly profits despite the decline in turnover

Manchester United said on Wednesday it turned a profit in the second quarter as cost-cutting measures began to pay off, although lower sponsorship revenues and ticket sales after missing European competitions kept profits in check.

Over the past year the club has resorted to job cuts, staff lunches and other cost-cutting measures after six consecutive years of financial losses caused by underperformance both on and off the pitch.

“We are now seeing the positive financial impact of our transformation off the field manifesting itself in both our costs and our profitability,” said CEO Omar Berrada.

After an inconsistent run in the English Premier League since last season, the 20-time English champions have seemingly found their footing under interim manager and former midfielder Michael Carrick, who replaced head coach Ruben Amorim in January.

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Under Carrick, United were the most in-form team in the league in 2026. They are currently fourth with 48 points and have a good chance of qualifying for next season’s UEFA Champions League tournament.

United’s results come weeks after minority owner Jim Ratcliffe was forced to apologize for saying Britain had been «colonized by immigrants», drawing widespread criticism, including from Prime Minister Keir Starmer and the club’s fan groups.

The club’s debt rose 37% to £295.7m at the end of 2025, while cash and cash equivalents fell to £44.4m from £95.5m a year earlier.

United reported a net profit of 4.2 million pounds ($5.67 million) for the quarter ended Dec. 31, compared with a loss of 27.7 million pounds a year earlier.

The club maintained its annual revenue forecast of between £640m and £660m, and profits of £180m to £200m.

Published on February 25, 2026