Manchester United have slipped to eighth in Deloitte’s annual Football Money League, earning £692million in revenue for the 2024/25 season. That puts them more than £300million behind Real Madrid, who top the table with £1.013billion, and behind Barcelona, Bayern Munich, Liverpool, Manchester City, and Arsenal.
The drop in broadcast revenue is particularly stark: United brought in £180million from broadcast deals, at least £100million less than Liverpool, City, and Arsenal. Missing out on Champions League football for 2025/26 has exacerbated the financial gap, and the club will struggle to close it without a return to Europe’s top competition.
Sir Jim Ratcliffe, who acquired a 27.7 percent stake in the club in early 2024, has been cutting costs across his Ineos empire, which carries an £18billion debt burden. Ineos has closed factories in Germany and Ohio, made 20 percent of staff at a Hull plant redundant, and ended sponsorship deals with the All Blacks and America’s Cup sailing. Ratcliffe has also slashed the asking price for his stake in OGC Nice.
The decline in United’s financial standing is a direct consequence of on-field mediocrity, according to the report. Ratcliffe’s decision to hire Ruben Amorim has been described as an expensive mistake, and the club now faces a crucial summer to get football appointments right. Michael Carrick has been mentioned as a potential permanent manager, but whoever takes charge must receive strong financial backing to restore Champions League status.
United’s stadium, with capacity for over 70,000, does not maximise matchday revenue, and only Arsenal have a smaller wage bill among the top eight clubs in the Money League. The Glazers and Ratcliffe must now act decisively to prevent further financial erosion.
