Manchester United Plc: Financial Performance and Market Reaction – 17 September 2025

Fiscal 2025 Results

Manchester United Plc disclosed its fourth‑quarter and full‑year results for the fiscal year ended 30 June 2025.

  • Revenue: £666.5 million, a record high for the club.
  • Operating loss: The operating loss narrowed, with the club reporting a 0.7 % increase in revenue compared with the same period a year earlier.
  • Net loss: The club posted a net loss of £33 million for the year, marking the sixth consecutive year of negative earnings.

The company highlighted that the revenue rise was driven primarily by commercial activities, including media, sponsorship and merchandise sales. Adjusted EBITDA improved, but the club remains in a net loss position due to ongoing operating costs and investment outlays.

Outlook for FY26

Despite the absence of UEFA competition for the club, Manchester United projected an EBITDA growth trajectory for fiscal 2026. Management reiterated confidence in the club’s commercial strategy, emphasizing the need to maintain a sustainable growth path. However, the board also cautioned that the club would likely experience a revenue dip in the forthcoming fiscal year, reflecting the broader economic environment and the club’s current financial position.

Market Response

Shares of Manchester United Plc (ticker MANU) closed at $15.38 on 16 September 2025, within a 52‑week range of $12.05 to $19.65. Following the earnings announcement:

  • On 17 September 2025, the stock fell 7.8 %, trading at a lower close on the New York Stock Exchange.
  • The decline was attributed to the announcement of a lower revenue forecast for FY26 and the continuation of net losses.
  • Investor sentiment was further weighed down by reports of a projected revenue dip and the club’s sixth straight annual loss, as highlighted in multiple Reuters and other financial news outlets.

Strategic Initiatives

The club’s management emphasized ongoing transformation initiatives aimed at enhancing both on‑field performance and off‑field commercial value. Key points included:

  • Expansion of the media network and digital fan engagement platforms.
  • Development of new sponsorship agreements and merchandising channels.
  • Cost‑management efforts to reduce operating loss while maintaining investment in player development and club infrastructure.

Summary

Manchester United Plc reported record fiscal 2025 revenues but continued to post a net loss, marking a sixth consecutive year of negative earnings. Management forecast a modest EBITDA growth for FY26 but cautioned of a revenue decline for the next fiscal year. The market reacted negatively to the earnings release, with the stock falling nearly 8 % on 17 September 2025. The club remains focused on commercial expansion and cost control while preparing for the challenges of the upcoming season.