Omar Berrada talks up 'off-pitch transformation' at Man Utd as impact of Ruben Amorim's summer transfer clear-out revealed

United celebrated several gains as they announced their second-quarter financial results on Wednesday. The club announced an operating profit of £32.6m compared to an operating loss of £3.9 million at the same point in 2025 as a result of reducing costs and making over 450 employees redundant. 

There was also a 9.2 percent increase in EBITDA (a measure of profitability which is regarded as the best measurement of business performance) from £94.2m to £102.9m.

However,  total revenue decreased from £198.7m to £190.3m due to the men's team failing to qualify for European competitions. Despite that, operating profit grew from £3.1m to £19.6m. United reiterated that they expect total revenues to reach between £640m and £660m in 2026.

Berrada said: "We are now seeing the positive financial impact of our off-pitch transformation materialise both in our costs and profitability. We continue to take a football first approach and invest in both our men’s and women’s first teams. 

"On the pitch our men’s team sits 4th in the Premier League and our women’s team are 2nd in the Women’s Super League, as well as reaching the League Cup Final and the quarter final of the UEFA Women’s Champions League. 

"Today’s results demonstrate the underlying strength of our business as we continue to push for the best football results possible for our Men’s and Women’s teams."

The results do not show the costs of United sacking Amorim or hiring Michael Carrick until the end of the season. However, Amorim can take some credit for driving down the wage bill as he insisted that the club drove out Marcus Rashford, Alejandro Garnacho, Jadon Sancho and Antony, who were all placed in his 'bomb squad' in the summer and prohibited from training with the rest of the first team while they searched for new clubs.

United sending Rashford on loan to Barcelona, after spending the first half of 2025 at Aston Villa, is believed to represent the biggest saving for the club as the striker is reported to have been on £17m per year after signing a new contract in 2023. The club also made big savings from loaning Jadon Sancho out to Aston Villa, loaning Rasmus Hojlund to Napoli and from Andre Onana joining Trabzonspor on loan. Sancho is set to leave the club permanently as his contract runs out in June, although Rashford and Onana are under contract until 2027 and 2028. Hojlund is expected to join Napoli permanently next summer.

The club saved further money by selling Alejandro Garnacho to Chelsea for £40m and Antony to Real Betis for £21.6m, with the transfer fees making a big impact on the club's operating profit. Victor Lindelof also left after his contract expired.

Despite making some financial gains without European football, United's future financial health hinges on the club competing in the Champions League on a regular basis and getting a piece of the competition's lucrative television rights deal. United are also counting the cost of having fewer matches at Old Trafford due to failing to qualify for any European competition and exiting the FA Cup and Carabao Cup at the earliest hurdles. That is despite the club reporting a 45% increase in matchday revenue per match due to hiking ticket prices.

Last month United dropped to eighth place in the Deloitte Money League, their lowest ever position, due to last reaching the Champions League in 2023. Carrick has elevated the club's hopes of returning to Europe's  top competition by winning five of his six Premier League games since succeeding Amorim, taking them into fourth in the table with a three-point lead over Chelsea and Liverpool.