Man Utd: UCL absence hits as EPL club report £6.9m loss for first quarter

Manchester United's absence from the Champions League this season and costs associated with their layoff program have contributed to the club posting an operating loss of £6.9 million for the first quarter of the 2024/25 financial year.

United finished eighth last season under former manager Erik ten Hag – their lowest ever finish in the Premier League – and thus miss out on Europe's top club competition.

That has resulted in a 20.4 percent decline in broadcast revenue in the quarter ending September 30 (£31.3 million), compared to the corresponding quarter last year (£39.3 million).

United's win in the FA Cup last season means they will compete in this season's Europa League instead.

Commercial revenue also fell 5.6 percent in the quarter from £90.4 million to £85.3 million, with matchday revenues down 3.3 percent – £27.4 million to £26.5 million.

The club recorded an exceptional cost of £8.6 million in these figures, which they said “includes costs incurred in connection with the restructuring of the group's operations, including the redundancy scheme implemented in the first quarter of the financial year 2025 has been implemented”.

United have previously said they expect the restructuring to lead to savings of between £40 million and £45 million, which they expect will have a positive impact on their 2025 and 2026 financial results.

United made a profit of £1.9 million in the same quarter last year, but ended the period with a net loss of £113.2 million.

The club said in September they were confident they met the Premier League's profitability and sustainability rules, which allow maximum disallowed losses of £105m over three seasons.

United's wage bill fell by £10.1m to £80.2m this quarter. The club attributed this 11.2 percent drop “mainly to changes in the composition of the first-team playing squad”.

Club chief executive Omar Berrada said United's cost and staff cuts remained “on track”, as did work to renovate the club's training ground in Carrington.

He confirmed that a taskforce weighing the merits of redeveloping Old Trafford or building a new stadium on adjacent land would continue its work.

“Once it makes its recommendations, we will take time to digest them and evaluate all of our options over the coming year,” Berrada said.

The task force is chaired by World Athletics president Lord Coe and also includes former United defender Gary Neville.

The club expects a total turnover of between £650 million and £670 million by 2025.