Man Utd
United Q1 Accounts: Rising Net Debt Overshadows Short-Term Financial Gains
Q1 accounts: United’s net debt surpasses £749 million after summer transfers while revenue drops 2%.
Manchester United reported a notable increase in net debt in the opening quarter of 2025–26 after a heavy summer spending programme, even as the club posted an operating profit for the period.
The latest accounts show net debt has climbed past $1 billion (£749 million) for the first time, following a £105 million borrowing to cover transfer instalments and outstanding payments. The club took on that borrowing in addition to historic debt accumulated under the Glazers and subsequent borrowings, producing the new net debt total of £749 million.
Revenue for the three months to Sept. 30, 2025 came in at £140.3 million, down from £143.1 million in the same period a year earlier, a 2% reduction. Every revenue strand fell: commercial revenue slipped from £85.3 million to £84.2 million (-1.3%), broadcasting dropped from £31.3 million to £29.9 million (-4.5%) and matchday income edged down from £26.5 million to £26.2 million (-1.1%). The report attributes the largest fall in broadcasting to the absence of European football this season.
United recorded a £13 million operating profit but a £6.6 million net loss for the quarter. The operating result marks an improvement on the prior-year period, when the club reported an operating loss.
Omar Berrada sought to emphasise the positives in his response to the accounts. “These robust financial results reflect the resilience of Manchester United as we make strong progress in our transformation of the club,” Berrada said.
“The difficult decisions we have made in the past year have resulted in a sustainably lower cost base and a more streamlined, effective organisation equipped to drive the club towards improved sporting and commercial performance over the long-term.
That has helped us to invest in our men’s and women’s teams, sitting in sixth and third places in the Premier League and Women’s Super League respectively.”
The report also details cost-cutting actions linked to changes under co-owner Sir Jim Ratcliffe. Around 250 roles were cut in 2024, followed by a second round earlier this year that was expected to affect up to 200 staff, reducing the workforce by almost 40% from over 1,100 since Ratcliffe’s partial takeover.
Man Utd
Man Utd Target Crysencio Summerville as Left‑Wing Options Are Weighed
Man Utd assess Crysencio Summerville as one of several left-wing options, West Ham face sales. soon.
Manchester United are “paying serious attention” to West Ham winger Crysencio Summerville as part of their search for a left-sided wide player this summer. Sources suggest the club view Summerville as one of several candidates while evaluating alternatives and squad options.
Summerville, 24, drew fresh interest after an impressive World Cup showing against Japan in which he scored and offered a combative display off the ball. The Athletic reports Manchester United have “enquired” about his situation. At an estimated $67.1 million (£50 million) he sits at the lower end of the price range compared with other reported targets.
Other names United have considered include Yan Diomande, Iliman Ndiaye, Morgan Rogers and Bradley Barcola. Leipzig are likely to demand about $116 million (€100 million, £86.5 million) for Diomande, a figure that would place him well above Summerville and potentially push any move beyond the immediate window. Barcola has been linked amid reports of frustration over his minutes at Paris Saint-Germain.
Domestically, reintegrating Marcus Rashford remains a discussed option within the club, although it may be regarded as a last resort. Michael Carrick has not ruled out that path while also acknowledging the desire to add a new wide player.
Summerville’s form last season included a run of four successive Premier League goals in January after an indifferent start to 2025–26, but a minor injury in March interrupted his momentum and reduced his influence in the closing weeks.
West Ham paid roughly half of the reported United valuation to sign Summerville from Leeds United in 2024. Relegation has increased the likelihood of interest in the club’s top performers, a list that also contains midfield target Mateus Fernandes and attacker Jarrod Bowen.
Daniel Křetínský, the incoming principal shareholder at West Ham, has insisted the club will not sell for financial reasons. “We have a very credible strategy,” Křetínský told The Times. “We don’t need to sell the players for financial reasons. We are doing this to make sure we are promoted back to the Premier League immediately. That is our only goal.”
Barcelona
Rashford’s Options After Barcelona Decline: Return, Sell or Stall
Barcelona declined to trigger Marcus Rashford’s purchase clause; he returns to Manchester United 2026
Barcelona have opted not to trigger the purchase clause for Marcus Rashford, making the temporary move effectively over and leaving the forward to return to Manchester United once his World Cup duties with England finish. The decision on June 16 closes one chapter but opens several possible outcomes for the 28-year-old.
Rashford enjoyed a productive season at Barcelona, making 49 appearances and recording 14 goals and 14 assists. He impressed primarily on the left wing while also filling in on the right and as a central striker, his versatility a feature that first attracted interest.
Early in the campaign a permanent deal for around €30 million seemed straightforward, but the narrative shifted. Barcelona’s subsequent €70 million signing of Anthony Gordon from Newcastle United demonstrated the club had transfer funds available. Reports suggest the real sticking point was amortization and the financial impact spread over contract years, with Gordon viewed as having a more favourable effect on the club’s accounts partly because he is three years younger than Rashford. Inside Camp Nou the view is that Gordon’s defensive work rate better suits Hansi Flick’s tactical demands.
Despite choosing Gordon, Barcelona remain open to Rashford if circumstances change. They reportedly tried to negotiate a lower fee with United and were prepared to agree terms for a reduced price, but Manchester United declined further discounts and gave an unenthusiastic response to suggestions of a second loan. Barcelona’s stance is that Rashford is welcome back, but not at the club’s current valuation.
Reports indicate Rashford would welcome a return to Barcelona, yet his fate hinges on United lowering their demands. La Liga sources believe Barcelona are counting on Rashford refusing other offers to force United into a choice: pay his reported weekly wages of around $435,000 or reopen talks.
Rashford’s exit from United originally occurred under former manager Ruben Amorim. The environment at Old Trafford has since changed, with Michael Carrick now in the dugout permanently. A return to Manchester to rebuild has been floated and remains possible, likely driven by necessity rather than preference.
Other clubs linked in speculation include Bayern Munich, Paris Saint-Germain, Arsenal, Chelsea, Newcastle United and Tottenham Hotspur. According to The Athletic, United have a clause making Rashford available for $54 million (£40 million) this summer to all suitors except Liverpool and Manchester City. The player reportedly prefers not to remain in England with another Premier League club if it is not with Manchester United.
AC Milan
Amorim to Milan: What the Move Means for Manchester United’s Preseason
Amorim’s move to AC Milan reduces United’s compensation and focuses attention on Aug. 15 friendly. .
Reports that Ruben Amorim is negotiating to become AC Milan manager change more than compensation figures for Manchester United. Amorim’s time out of work is not expected to drag on, with Saturday coverage identifying him as the preferred candidate to take over at AC Milan this summer. As noted by The Telegraph, an anticipated agreement with Milan will spare United from paying the full share of their compensation to the Portuguese tactician.
United finalised their preseason schedule earlier this month, electing to stay in Europe for the first time in 24 years to help players respond to a summer full of World Cup action across the United States, Canada and Mexico. Opponents listed for the Red Devils’ preparations include Wrexham (July 18, Olympic Stadium, Helsinki, Finland), Rosenborg (July 24, Lerkendal Stadion, Trondheim, Norway), Atlético Madrid (Aug. 1, Strawberry Arena, Stockholm, Sweden), Paris Saint-Germain (Aug. 8, Ullevi Stadium, Gothenberg, Sweden) and Leeds United (Aug. 12, Aviva Stadium, Dublin, Republic of Ireland).
United will round out their preparations with a friendly against AC Milan. United and Milan will lock horns at Tarczyński Arena in Wrocław, Poland, on Aug. 15, and all the signs suggest it will be Amorim leading the Italian outfit. While few conclusions can be drawn from preseason fixtures, supporters will demand a positive result against their former boss and many will watch how Milan adapt under Amorim and to the 3-4-2-1 formation to which he appeared so wedded during his tenure at Old Trafford.
The match will also offer a first public assessment of the rivalry between the two men responsible for United’s recent transition. It will be a chance for newly appointed permanent United manager Michael Carrick to take on his predecessor, having overseen drastic improvement compared to Amorim’s time in charge. The fixture therefore carries financial, tactical and narrative significance for both clubs as they head into the new season.
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