Manchester United have spent £8.6 million on laying off 250 staff, according to the latest quarterly financial figures.
Under co-owner Sir Jim Ratcliffe's cost-cutting measures, the club embarked on a major redundancy program designed to make the club more sustainable. United believes the job cuts will save £40m to £45m, with £8.6m shown in today's first quarter results as the cost of implementing that measure.
The figure of £8.6 million – known as 'exceptional costs' – includes costs incurred in connection with the restructuring of United's operations, including the redundancy package implemented in the first quarter of the 2025 financial year. The year before there were no 'exceptional costs'. costs' whatsoever.
United announced commercial revenues of £85.3 million, down £5.1 million on the previous year quarter, with sponsorship income of £51.8 million, down £4.4 million. That drop was due to changes in sponsorship deals and United playing three fewer matches on their pre-season tour compared to the previous year.
Merchandising and retail sales fell by £700,000 to £33.5m, while broadcast revenue for the quarter was £31.3m, down £8m. That loss of income was mainly due to United's participation in the Europa League, compared to the Champions League last year.
Matchday revenue for the quarter was £26.5 million, down £900,000 on the previous quarter. 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.
United CEO Omar Berrada said: “The season is now well underway for both our men's and women's teams, and we are keen to ensure both are as competitive as possible.
“We are pleased to have appointed Ruben Amorim as head coach of our men's team and remain committed to returning Manchester United to the top tier of domestic and European football.
“Our cost and workforce reductions remain on track, and we are pleased to have seen further commercial traction and welcome new partner Heineken through their Tiger brand.
“Our renovation of the Carrington Training Center is progressing well, as the Old Trafford Regeneration Task Force continues its work. Once it makes its recommendations, we will take time to digest them and evaluate all of our options over the coming year.”
United's total debt currently stands at £714 million, made up of long-term loans of £481.7 million and short-term loans of £232.3 million.
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