Man Utd post record £677m revenue and secure stadium land, but debt hits £1bn and interest costs £200,000 a day

Manchester United have announced record revenues of £677.6 million for the 2026 financial year, despite not playing in European competition last season. But a football finance expert has warned that interest payments of £200,000 a day are draining the club's ability to invest.

Revenue rose from the previous record of £666.5 million in 2025. The club also posted an operating profit of £22.6 million after recording an £18.4 million loss the previous year, crediting "operating cost and headcount reductions" and "improved Premier League performance."

However, pre-tax losses widened to £43 million, up from £33 million.

How did they grow revenue without Europe?

Football finance expert Kieran Maguire told Sky Sports News the answer was twofold: "First of all, they finished third in the table compared with 15th at an extra £3 million per place in terms of prize money."

"Secondly, there was a noticeable increase in the amount that fans were being charged to attend matches. Based on my calculations, it went from around £88-89 to £106 per match. So there were fewer matches, but those fans that were attending ended up paying a lot more."

What about the debt?

Maguire's analysis was stark. Gross debt stands at £689 million. On top of that, transfer debt is estimated at £350-400 million. That means roughly £1 billion in combined debt.

"Because they have got so much debt and because interest rates are going up, the interest expense was almost £70 million," Maguire said. "That's £1.4 million a week. That's £200,000 a day in interest."

He added: "Every pound paid in interest is a pound that isn't being invested in the squad, isn't being invested in sports science, isn't being invested in facilities for fans."

Can they afford the stadium?

The club confirmed it has secured the land for a proposed 100,000-seat stadium as part of the Wharfside regeneration.

CEO Omar Berrada said: "We have now completed the major milestone of securing the land which will form part of the proposed location of the new stadium."

But Maguire questioned how it would be funded: "We have £1 billion worth of football debt and traditional debt. How is the club going to fund a new stadium, which some people are saying could cost up to a further £2 billion? Where is the money going to come from?"

What else did Berrada say?

"This shows the direct impact of the work we have been doing over the past two years. It also proves Manchester United's enduring popularity and commercial strength. While these results confirm that we are on the right trajectory, we will continue to take a disciplined approach to ensure our finances remain sustainable."

The club also saved over £8 million after Ruben Amorim joined AC Milan, cutting his £16.7 million severance package by more than half.