Man United CEO Berrada praises club advancements following recent financial outcomes.
Manchester United CEO Omar Berrada has indicated that significant cost-reduction strategies are beginning to yield results as the club unveiled their most recent financial figures.
Since Sir Jim Ratcliffe acquired a minority stake in February 2024, the club has implemented over 250 job cuts.
Additionally, efforts have been made to reduce the wage expenses, which include the salaries of players on the men’s first team.
On Wednesday, United reported an operating profit of £32.6m ($44m) for their second quarter, in contrast to a £3.9m ($5.3m) loss during the same timeframe last year.
“We are now witnessing the favorable financial effects of our off-pitch transformation reflected in both our costs and profitability,” Berrada stated.
“We remain committed to a football-first strategy, investing in both our men’s and women’s first teams.
“Currently, our men’s team is positioned fourth in the Premier League, while our women’s team holds second place in the Women’s Super League, in addition to reaching the League Cup final and the quarter-finals of the UEFA Women’s Champions League.
“Today’s results highlight the fundamental strength of our business as we strive for optimal football outcomes for both our men’s and women’s teams.”
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Total operating expenses for the quarter ending December 31 decreased by £22.5m ($30.4m) to £173.9m ($235.1m), marking an 11.5% reduction.
The club also reported that employee benefit expenses for the quarter have dropped by £7.4 million ($10m) to £75.1m ($101.6m) “due to the effects of headcount reduction initiatives implemented in the previous year.”
The club asserts that these measures ensure they are “in compliance with both the Premier League’s Profit and Sustainability Rules and UEFA’s Financial Fair Play Regulations” ahead of another crucial transfer window in the summer.
