Manchester United announce revenue drop for 2nd quarter

A Manchester United supporters' group says fans must not "pay the price" for the club's financial "mismanagement" after the Red Devils announced revenues decreased by 12% in the last financial quarter.

The club announced on Wednesday that revenues had dropped to £198.7m for the final three months of 2024, down from £225.8m for the same period 12 months previously.

Overall, the club made an operating profit of £3.1m - down from £27.5m over the same period in 2023 - after spending £14.5m on the sackings of Erik ten Hag and his coaching staff, including the £4.1m cost of hiring and then dismissing former sporting director Dan Ashworth within five months.

The announcement comes against a backdrop of the club making over 200 redundancies and raising matchday ticket prices to £66 per game, with no concessions for children or pensioners.

United wrote to supporters in January to say "difficult" decisions would need to be taken as the club was "close" to breaching the Premier League's profit and sustainability rules.

The club did not deny reports that it is seeking to make further redundancies, it is expected by United that the restructuring decisions will lead to savings of between £30m and £40m.

"Fans should not pay the price for a problem that starts with our crippling debt interest payments and is exacerbated by a decade or more of mismanagement," said Manchester United Supporters' Trust in a statement.

"It's time to freeze ticket prices and allow everyone - players, management, owners and fans - to get behind United and restore this club to where it belongs."

Manchester United's second quarter results

• Revenues down 12%, from £225.8m to £198.7m
• Broadcast revenue down 42%, from £106.4m to £61.6m
• Operating profit down 88.7%, from £27.5m to £3.1m
• Commercial revenue up 18.5%, from £71.8m to £85.1m
• £14.5m spent on sacking of Erik ten Hag and his coaching staff, including £4.1m on hiring then firing of former director Dan Ashworth
• Club debt up from £506.6m to £515.7m
• They owe £414m on transfer fees to other clubs