Manchester United reports losses despite major restructuring

Manchester United continues to face significant financial challenges despite extensive restructuring efforts led by Sir Jim Ratcliffe and INEOS. Following Ratcliffe’s acquisition of a minority stake in February 2024, the club has implemented a major cost-cutting program aimed at creating a more efficient and agile corporate structure.

As part of these measures, the club’s permanent workforce has been reduced from 1,127 to 805 employees, representing a nearly 29 percent decrease. The most significant job cuts occurred in the commercial department, which saw a 44 percent reduction, as well as in administration, media, and the technical/coaching sectors.

While these cuts helped turn an operating loss into an operating profit, the club remains in a deficit overall. For the 2025/2026 financial period, Manchester United reported a pre-tax loss of approximately 54.62 million euros. High financing costs, driven by interest payments and currency fluctuations on dollar-denominated debt, continue to impact the club’s bottom line, with total debt exceeding one billion euros.