Record Revenue, Amorim Firing, New Stadium: Takeaways From Man Utd’s 2025

Manchester United made $898 million (£677.5 million) during the 2025–26 season, with detailed figures included in the club’s newly published accounts for the 12 months ending June 30, 2026.

It was a year that saw the club play just 40 matches across all competitions, the result of failure to qualify for any form of European soccer during the season prior, and early eliminations from both domestic cup competitions. But it demonstrates an ability to still rake in huge income even when not competing at the highest, most lucrative level, or playing as often as usual.

This was also a period that included the dismissal of a manager, with Ruben Amorim leaving Old Trafford in January, an event that naturally incurs cost.

During last season, United made strides towards the vision of new Old Trafford, built a few hundred yards from the existing stadium that has stood since 1910. A crucial part of that project has been acquiring land from an adjacent freight hub to provide the necessary space.

Chief executive Omar Berrada lauded the “underlying strength of our business” when there have been limitations on some of the revenue streams elite soccer clubs rely on. He also spoke of the “enduring popularity and commercial strength” of Manchester United delivering relatively healthy results when circumstances had the potential to make it a problematic year.

Record Revenue—But Loss Ensures ‘Sustainability’ Approach Continues

Jason Wilcox, Omar Berrada — CEO Omar Berrada (R) has given his opinion on the numbers. | Robbie Jay Barratt/AMA/Getty Images

For Manchester United, $898 million is a club record for revenue in a single season.

It demonstrates the accelerated earning potential at the top end of professional soccer when the Red Devils were able to achieve that in a year when commercial revenue fell, there was no money coming from European competition and with literally fewer matches causing things like gate receipts and overall food/drink sales to fall.

United have had much better seasons in the past and made less money out of it.

Man Utd Revenue—2025–26 vs. 2024–25

Revenue	2025–26	2024–25
Commercial	$440.4 million	$441.6 million
Broadcasting	$274 million	$229.1 million
Matchday	$203.4 million	$212.4 million
Total	$897.9 million	$883.2 million

Commercial revenue was less than it could have been due to not having a training kit sponsor during 2025–26. That has been remedied for 2026–27 by partnering with Betway. Champions League soccer will raise broadcasting revenue this season, while the addition of more games to the schedule will mean greater matchday revenue.

By comparison, Liverpool’s 2024–25 title-winning season made them $931.5 million (£703 million). Arsenal’s financials for 2025–26 have not yet been published, but estimates suggest the campaign was worth in excess of $1 billion (£755 million) for the Gunners.

The standard bearers for revenue in the world of soccer are Barcelona and Real Madrid. The Catalans reached $1.15 billion (€1.06 billion) last season, while Los Blancos went even higher to $1.37 billion (€1.2 billion) despite not actually winning anything.

Even with club-record revenue, Manchester United still recorded an overall net loss of $57 million (£43 million), which shows the importance of maximizing incomes.

The club has made efforts to streamline expenditure over the last couple of years—salaries fell last season to $400 million (£302 million), which accounted for just under 45% of the revenue—and has looked for more cost-effective, frugal additions in the transfer market. Even though 2026–27 revenue should climb again, that approach is going to continue.

“While these results confirm that we are on the right trajectory, we will continue to take a disciplined approach to ensure our finances remain sustainable,” Berrada said.

Cost of Firing Ruben Amorim

Firing a manager is not a cheap exercise. But dismissing Ruben Amorim could have potentially cost a lot more had the Portuguese not relatively quickly gone back into work with AC Milan.

Compensation paid to Amorim and his staff was listed under exceptional items in the financial breakdown for last season, making up most of that $10.9 million (£8.2 million) cost. The number threatened to be more than double had Amorim not joined Milan in June, because his United contract was good until the summer of 2027.

When a manager is fired, they will generally be paid their usual salary until a time when either the contract ends or they are employed elsewhere—the exception is if there is some kind of relevant agreement made beforehand.

A year prior, United were paying Erik ten Hag following his dismissal for almost twice as long because he was out of work for nine months in total, before joining Bayer Leverkusen in late May 2025. Amorim was only out of the game for five months.

Acquiring Land for New Stadium

Old Trafford from the air — A new stadium will be built nearby to the existing one. | Mark Cosgrove/News Images/NurPhoto/Getty Images

Manchester United are yet to submit a planning application to build a new 100,000-seat stadium that co-owner Sir Jim Ratcliffe wants to be a ‘Wembley of the north.’ Yet it has cost the club a substantial amount of money just to get ready for that stage of the process.

In order to have enough land to build on, simultaneously keeping the existing Old Trafford stadium in full use—rather than head down the Tottenham Hotspur or Barcelona route of temporarily moving— United struck a deal to buy adjacent land currently occupied by a major freighting hub.

The 25-acre site in question is confirmed in the accounts to have cost $84.1 million (£63.5 million). That is just a fraction of what actually building the stadium will cost, estimated at $2.65 billion (£2 billion).

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