Manchester United Projects Increased Profit Following Boost in Sales from Europa League Campaign

On Friday, Manchester United updated their annual core profit forecast, attributing the increase to robust performances in the Europa League, which consequently boosted ticket sales and broadcasting revenue.

The club now anticipates an adjusted core profit ranging from £180 million to £190 million for the year ending in June, a notable rise from their previous estimate of £145 million to £160 million.

Ticket sales saw a remarkable increase of over 50%, totalling £44.5 million in the three months leading up to March, primarily driven by their successful run in the Europa League, despite ultimately losing the finals to Tottenham Hotspur.

This season marked United’s poorest performance in the Premier League since their relegation in 1974, with hopes of competing in European tournaments next season dashed following the Europa League final defeat.

“This has been a challenging season in the Premier League, which clearly fell short of our expectations, and we are committed to making significant improvements next season,” stated CEO Omar Berrada.

The club’s exclusion from European competitions, which represent crucial sources of broadcasting income, poses a significant challenge to their financial future, leading to widespread disappointment and frustration among fans globally.

Jim Ratcliffe, who holds nearly 29% of the club and oversees their football operations, has initiated measures to turn around the club’s fortunes, including job cuts, increasing ticket prices, and ending complimentary meals in staff canteens.

These initiatives are expected to begin yielding results in the first quarter of the upcoming fiscal year starting in July, as announced by the club on Friday.

For the three months concluding on March 31st, United reported a net loss of £2.7 million, a significant improvement compared to a loss of £71.5 million during the same period last year.