Manchester United records loss despite growth in revenue

The Manchester United men’s team revenue has grown by 11% in 2023, according to the company’s latest accounts.

Manchester United Football Club Limited reported a turnover of £601 million in its annual report and financial statements for the year ended 30 June 2023. The club generated £540m in revenue in 2022.

“The 2022/23 season began with the men’s first team undertaking their first overseas pre-season tour since the Covid-19 pandemic, which resulted in an increase in commercial revenue,” the Red Devils said.

The club’s commercial revenue was up by £41.5m (19%).

“On the pitch, it was a successful season for the team, finishing in 3rd place in the Premier League, winning the Carabao Cup, reaching the final of the FA Cup, and the Quarter-final of the Europa League,” the club said.

“This saw an increase in Matchday revenue and a slight decrease in Broadcasting revenue due to not participating in the UEFA Champions League, partially offset by the strong on-pitch performance.”

Broadcasting revenue dropped by £5.6m (3%).

Matchday revenue saw the biggest gains in terms of percentage. The club made £137.6m last year compared to £112.2m in 2022 (22.6%).

Despite the strong turnover, Manchester United posted a loss of £25.8m for the financial year.