25 Feb 2026 12:39:46
I'm not going to come on and pretend to be a financial expert or to defend or criticise anyone but just read Manchester United have announced an operating profit in first 6 months of fiscal 2026 of £32.6 million, compared to £3.9 million operating loss in first 6 months of fiscal 2025.
This looks good for the club. Glazers will certainly be very happy!
25 Feb 2026 14:58:59
Cool, now give me the net. Operating profit only includes day-to-day costs (rent, payroll, utilities). Net profit includes all costs, including interest on debt and taxes. We have a boatload of debt and pay a king's ransom in interest.
25 Feb 2026 15:01:52
Ok, quick check. United announced an operating profit of £32.6m for the first six months of the 2025-26 season, but that included £48.2m profit from player sales. The underlying result, exclusive of those, a total which is more commonly used in the football industry as a club's operating result, was a £15.7m loss.
25 Feb 2026 16:14:11
And now the debt has increased to 1.3bn. What brilliant owners we have!
25 Feb 2026 16:34:57
Like I said, I'm not a financial expert, but I guess, from a very simplistic point of view on this subject, the lack of Champions League football and the well-reported struggles to get sponsorship deals compared to other teams have hit us hard. Is it fair to suggest the club has had to borrow again to cover costs, but that this current "profit" in the report should be viewed as positive despite all of the above? Next year, if the club is in the Champions League, we'll attract better sponsorship, profits will (hopefully) rise again, and debt should fall more quickly (in theory).
I know the comment "don't worry about the finances" will come up, and I'm not trying to ignore it, but it does affect the club and what we are doing, and it would be interesting to hear from people better placed to offer a balanced view on this, because there has to be a positive to this profit?
25 Feb 2026 17:06:34
Champions League football is needed to make an impact on the debt. Quite frankly, it's amazing they're doing as well as they are considering we don't have it this year, and got knocked out of both domestic cups in the first round. And, moreover, they managed to acquire 5 excellent players over the summer, and no duds.
There are no instant fixes. The results are an improvement. It's going to take at least another year to see any major change in direction from a financial point of view. No point in worrying about it.
25 Feb 2026 19:53:11
I suspect the next one will be a loss. No profits from player sales, players loaned out, and inflated wages for dross players. No cup runs (fewest games in a season for a long, long time), and a crazy amount of debt causing high interest payments. Oh, and payouts to sacked employees, I would imagine.