24 September – Despite extensive cost-cutting measures under Sir Jim Ratcliffe’s regime, Manchester United continue to operate with a global debt of more than £1 billion.
Against a backdrop of fan protests and a miserable start leaves Manchester United 12th In the English Premier League and outside the EFL Cup, the club, however, announced record revenue of £677.6m and an operating profit of £22.6m for the 2024/25 season, despite missing out on European football for the first time in a decade. This is a huge turnaround from the loss of £113.2m in 2023-24.
But the numbers below tell a more difficult story. Net finance costs rose 228.3% to £69.6m, mainly a foreign exchange loss, and according to financial expert Kieran Maguire’s calculation this figure alone has topped £1bn since the leveraged buyout of the Glazers in 2005.
Overall debt, although down from £1.3bn, is still above £1bn, made up of historical debt, the revolving credit facility and outstanding transfer fees. The stadium, 350 meters from Old Trafford, will cost north of £2 billion, with the club also confirming that £63.5m has been spent on buying land for the new facility.
The President of the Executive, Omar Berrada, put on a brave face. “We are pleased to have achieved record revenue,” he said, insisting the club is “on the right track”. Fans, furious at a £148m summer transfer outlay that fell short of newly promoted Ipswich, may disagree.
And now, the piece de resistance. United are flagging the real field. For £125 you can own a patch of Old Trafford turf, dug up in June for the first time in 14 years and sealed inside a glass cube.
Let’s be honest about what story you’re buying here. Yes, this is the turf that hosted 13 titles in the Ferguson era. It is also the grass that witnessed a 5-0 hammering of Liverpool, a 6-1 humiliation of Spurs and, most recently, a 3-2 Carabao Cup collapse against Brighton after leading 2-0, United’s first home defeat from a half in 42 years.
So, somewhere in a glass cube of a fireplace, there is a blade of grass that saw how it all unfolded. The club say the meeting was about player welfare and drainage. Cynics might say that United do not have things worth celebrating on the pitch that they have resorted to selling the ground.
Contact the writer of this story, Nick Webster, at (email protected)
