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.

Napoli have not dismissed the possibility of pursuing Kobbie Mainoo on loan as the Manchester United midfielder seeks regular playing time. Mainoo has struggled for minutes under Ruben Amorim and is reported to favour a temporary move abroad when the January transfer window opens, with links to Napoli and Bayern Munich.

Napoli sporting director Giovanni Manna spoke to Sky Sport Italia about the club’s potential involvement, suggesting any approach would be evaluated. “He is a player who has been linked to Napoli since August, also for his age, his potential, and the transfer opportunity,” Manna said. “This team is doing well, it is consolidated. We have some important absences right now, but sooner or later the lads will return, strong and determined. We have to make the right evaluations, so we’ll see how things progress along the way.”

The interest is framed by recent business between the two clubs. Napoli have taken Scott McTominay and Rasmus Højlund from Manchester United in the past couple of years, moves that the Italian club will be conscious of as they weigh any further activity.

Reports in the Daily Mail indicate Mainoo has chosen Napoli as his preferred destination and that “at least 12 clubs” could show interest if Manchester United permit a loan. The player was thought to have been keen on a move to Naples over the summer as well. Any transfer is likely to depend on United’s willingness to engage and whether the club requires a replacement first. It has also been suggested a decision on Mainoo might be delayed until after Amad Diallo and Bryan Mbeumo return from the Africa Cup of Nations.

Mainoo’s limited appearances this season have prompted questions whenever Amorim has faced the media. On the topic, the United boss said: “I see it. I just want to win, I try to put the players, I don’t look who it is, I don’t care about that, I’m just trying to put the best players on the pitch,” reinforcing that selection is based on performance and team needs.

Erling Haaland used a lighthearted interview appearance to poke fun at Jamie Carragher after his match-winning night at the Santiago Bernabéu. Fresh from converting the decisive penalty that sealed a 2–1 victory for Manchester City against Real Madrid, Haaland was asked about the studio mood and took aim at Carragher’s recent on-air exchange involving Mohamed Salah.

Haaland was beamed into the CBS Sports studio and, with a smile, said: “Oh, I’m getting nervous now when I see Jamie Carragher in the studio…” Carragher responded loudly from the set: “You don’t need to be nervous, Erling. Don’t be nervous.” The banter continued when Micah Richards intervened to ask: “Haaland, who do you prefer? [Antonio] Rüdiger or Carragher?”

Haaland reacted with a vocal exhale before answering. “Oof,” City ’s No. 9 said with an exhale of breathe. “I think I need to say Rüdiger now because Carragher is a bit [of a] loose cannon now, so we need to be careful…” Laughter in the studio overtook the final part of his explanation.

The striker’s jocular tone was echoed elsewhere on the night. Speaking to TNT Sports from the pitchside, Haaland reflected on the physical side of the contest, referring to Real Madrid’s defenders. “You could see after one minute Asencio was starting to push me and try to beef with me a lot,” he said, and added: “It’s something I like, personally, I don’t mind it.”

Haaland’s comments arrived after a sequence in which he won the penalty following a tug by Antonio Rüdiger and then calmly converted from the spot to secure the win. The exchanges in the studio and on the touchline underlined Haaland’s relaxed mood after a defining moment at the Bernabéu and produced a rare clip of good-natured ribbing between a player and a well-known pundit.