Man Utd Profits Hit by Ten Hag Sacking; Revenue Down 12%
Europa League, Ten Hag Cost Impact Man Utd's Bottom Line
- Manchester United's latest financial results reveal a 12% drop in revenue for the last quarter of 2024
- Revenue fell to £198.7m from £225.8m for the same period the previous year
- He also confirmed that the training ground redevelopment is "on track."
Manchester United’s latest financial results reveal a 12% drop in revenue for the last quarter of 2024, attributed in part to the cost of dismissing former manager Erik ten Hag.
Revenue fell to £198.7m from £225.8m for the same period the previous year.
A significant factor in this decline was a 42% decrease in broadcast revenue, falling from £106.4m to £61.6m due to the club’s participation in the Europa League instead of the Champions League.
Operating profit also decreased substantially, from £27.5m to £3.1m. Club debt increased slightly from £506.6m to £515.7m, which the club attributed to unfavorable exchange rate fluctuations.
The results include a £14.5m “exceptional item,” comprising £10.4m spent on dismissing Ten Hag and his staff, and £4.1m related to the departure of former sporting director Dan Ashworth.
Despite the overall decline, commercial revenue saw an 18.5% increase, rising from £71.8m to £85.1m, boosted by the Snapdragon front-of-shirt sponsorship.
“We recognise the challenges in improving our men’s team’s league position and we are all working hard, collectively, to achieve that,” commented CEO Omar Berrada.
He also confirmed that the training ground redevelopment is “on track.” The £11m cost associated with hiring new head coach Ruben Amorim and his staff is not explicitly detailed in the financial report.
