No one asking the question why have they lost so much money?
Manchester United have reported significant financial losses over the last three seasons, totaling approximately £300 million in net losses. Here's a breakdown based on available data:
- **2021-22 Season**: Net loss of £115.5 million.[](https://www.bloomberg.com/news/articles/2022-09-22/man-united-s-losses-deepen-due-to-poor-form-on-football-pitch)[](https://www.mirror.co.uk/sport/football/news/man-utd-financial-results-debt-28054617)[](https://www.nytimes.com/athletic/3618611/2022/09/22/manchester-united-financial-results/)
- **2022-23 Season**: Net loss of £28.7 million.[](https://www.bbc.co.uk/sport/football/articles/c07e42ryd0po)[](https://www.bbc.com/sport/football/articles/c07e42ryd0po)[](https://www.dailymail.co.uk/sport/football/article-12675451/Manchester-United-announce-record-revenues-650m-season-50m-shaved-wage-bill-Glazers-dont-dividend-club-debts-static-538m.html)
- **2023-24 Season**: Net loss of £113.2 million.[](https://www.bbc.co.uk/sport/football/articles/c07e42ryd0po)[](https://www.bbc.com/sport/football/articles/c07e42ryd0po)[](https://sports.yahoo.com/revealed-manchester-united-suffer-huge-120200955.html)
These figures sum to roughly £257.4 million in net losses over the three seasons. However, Manchester United themselves stated in response to fan groups that the club lost over £300 million in the past three years, indicating additional costs or adjustments (such as pre-tax losses or exceptional items) may contribute to the higher reported total.[](https://www.skysports.com/football/news/11667/13295399/manchester-united-finances-in-focus-after-club-reveals-300m-losses-over-past-three-years)[](https://www.skysports.com/football/news/11667/13295399/manchester-united-finances-in-focus-after-club-reveals-gbp300m-losses-over-past-three-years)[](https://www.nytimes.com/athletic/6084108/2025/01/23/manchester-united-psr-cash-losses/)
Factors contributing to these losses include:
- High wage bills, peaking at £384.2 million in 2021-22.[](https://www.mirror.co.uk/sport/football/news/man-utd-financial-results-debt-28054617)[](https://www.nytimes.com/athletic/3618611/2022/09/22/manchester-united-financial-results/)
- Significant transfer spending, with over £600 million spent on players in recent seasons.[](https://www.skysports.com/football/news/11667/13295399/manchester-united-finances-in-focus-after-club-reveals-300m-losses-over-past-three-years)
- Absence from the Champions League, reducing broadcasting revenue (e.g., a 20.4% drop in 2024-25 Q1).[](https://www.skysports.com/football/news/11667/13261020/man-utd-champions-league-absence-hits-as-premier-league-club-report-gbp6-9m-loss-for-first-quarter-of-financial-year)
- Exceptional costs, such as £47.8 million related to Sir Jim Ratcliffe’s minority stake acquisition in 2023-24.[](https://www.nytimes.com/athletic/5759800/2024/09/11/manchester-united-financial-results-2023-24/)
- Long-term debt interest payments and a revolving credit facility, with net debt at £731.5 million in 2023-24.[](https://sports.yahoo.com/article/manchester-united-financial-mismanagement-closer-193000700.html)
Despite record revenues of £661.8 million in 2023-24, poor on-pitch performance and high operational costs have driven these losses. The club remains compliant with Premier League Profitability and Sustainability Rules (PSR) through allowable deductions (e.g., for youth development and women’s football), but they’ve acknowledged a risk of breaching PSR in the future without further cost-cutting.[](https://sports.yahoo.com/revealed-manchester-united-suffer-huge-120200955.html)[](https://www.nytimes.com/athletic/5759800/2024/09/11/manchester-united-financial-results-2023-24/)[](https://www.nytimes.com/athletic/6084108/2025/01/23/manchester-united-psr-cash-losses/)