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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%.

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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.

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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.

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Fulham

Šeško’s stoppage-time strike seals 3-2 as Casemiro dominates before late wobble

A stoppage-time winner made it 3-2 after Casemiro’s early influence and a chaotic finish at Trafford

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Benjamin Šeško’s 94th-minute finish completed a dramatic 3-2 victory for Manchester United over Fulham on Sunday, capping a match that swung wildly after the influential Casemiro left the pitch.

Casemiro produced a commanding first-half display in his first Old Trafford appearance since announcing his exit this summer. He opened the scoring with a towering header after 19 minutes and later supplied a no-look pass that set up Matheus Cunha. Bruno Fernandes’ free kick arced onto Casemiro’s forehead for that opening goal, underlining the midfielder’s influence in both phases.

“Brazil’s 2002 World Cup winning defensive midfielder Gilberto Silva once described his compatriot Casemiro as “The Invisible Man.”” He was on show for all to see against Fulham.

With 15 minutes to play Casemiro was substituted and walked off to a standing ovation with United leading 2-0. His withdrawal coincided with a vulnerable spell in the centre of the pitch. Fulham probed through that area, and United were made to pay when Harry Maguire’s late lunge conceded a penalty, allowing Fulham back into the contest.

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Cunha had earlier taken advantage of Patrick Dorgu’s absence, drifting infield from the left before arriving on the right to score 10 minutes into the second half with a powerful finish from Casemiro’s pass. Cunha, promoted to the starting XI while Dorgu recovered, provided a different attacking option and ended up on the scoresheet.

Substitute Šeško, introduced in the 74th minute, struck the bar with his first touch before calmly nodding home the winner after more messy late moments.

Player ratings highlighted strong performances from Casemiro (8.8) and Bruno Fernandes (8.6), with goalkeeper Senne Lammens noted for several important saves (8.1). Manuel Ugarte offered a brief substitute appearance (6.5). Several late subs were without ratings.

Match statistics showed United had 42% possession to Fulham’s 58%. Expected goals read 1.74 for United and 1.97 for Fulham. Total shots were 13 to 14, shots on target 6 each, big chances 3 to 2, passing accuracy 87% to 90% and fouls 6 to 9.

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Man Utd

United Preparing Major Midfield Overhaul with Goretzka Among Targets

United plan major midfield additions this summer; Leon Goretzka is a reported possible target this.

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Manchester United are reported to be preparing a substantial midfield overhaul this summer, with the club said to be willing to “go very big” on central reinforcements. The plan could involve two marquee arrivals and has placed soon-to-be free agent Leon Goretzka firmly on the radar.

Goretzka spent eight seasons at Bayern Munich after joining on July 1, 2018. Arriving from Schalke as a wiry all-rounder, he bulked up during the COVID-19 hiatus and returned with a markedly different build. The 6’2″ midfielder described himself as “more self-confident and more robust.” He added: “Going into full-blooded challenges feeling like that gives me a greater sense of security.” Under Hansi Flick he drove Bayern to the 2019–20 Bundesliga title and a Champions League triumph.

Across his Bayern spell the record shows Joined: July 1, 2018; Games: 292; Goals: 47; Assists: 48; Titles: x6 Bundesliga, x1 Champions League, x2 DFB Pokal, x1 Club World Cup, x1 UEFA Super Cup. Injuries disrupted the following two seasons and, when Thomas Tuchel arrived in 2023, the new coach immediately sought to move him on that summer. Bayern’s board retained him, but reduced playing time followed and that decline cost him a place at the 2024 European Championships held on German soil.

Vincent Kompany initially shared Tuchel’s lack of faith before reintegrating Goretzka and praising his response: “Leon has always worked hard, he’s always been hungry in training,” and, “It’s a good thing for Leon and the other lads. Leon showed the right reaction: with his feet, not with words.”

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United, despite an upturn under Carrick, still need a central midfield replacement for the outgoing Casemiro. Manuel Ugarte had been the ideal profile but appears not to be the solution. Goretzka’s more front-footed profile would likely complement one of the three midfield targets United have been circling for months: Elliot Anderson, Adam Wharton and Carlos Baleba. Anderson is described as arguably the most complete of the trio, though his dominance may reflect both his talent and his teammates’ limitations, and all three are expected to command substantial fees.

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Barcelona

Rashford’s Return to United Remains Possible but Unlikely After Carrick Comment

Carrick would welcome Rashford back if appointed permanent manager, but the forward seems settled. .

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Michael Carrick has told those around him he would like Marcus Rashford back at Manchester United if he is appointed permanent manager, a development that has complicated an already tangled transfer picture.

Reports indicate Barcelona are leaning towards triggering a purchase option they hold on the 28-year-old, but The Telegraph says Carrick would explore a reunion with the England international if he is allowed to stay at Old Trafford beyond the summer. The final call, however, will belong to Rashford. If he does not want to stay with Barcelona, he simply will not.

Rashford left United after 426 appearances following a breakdown in his relationship with the club. The need for a fresh start contributed to his exit and United were willing to move on from a player who perhaps blew hot-and-cold one too many times. That context, plus the fact that Amorim drove United’s efforts to offload him, makes a comeback complicated. Amorim was relieved of his duties, and the change in coaching staff has reopened the possibility in principle, though the reunion feels unlikely in practice.

“Of course what I want is to stay at Barça,” Rashford told SPORT in December, two weeks before Amorim was relieved of his duties. We have not heard from Rashford since.

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Barcelona secured Rashford in the summer for an affordable fee of €30 million, a deal that exploited United’s position at the time. The forward has justified that outlay with a major impact on Hansi Flick’s side this season. Even so, Barcelona appear to believe United’s negotiating weakness, largely linked to Rashford’s large wages, leaves room to seek an additional discount.

Ultimately the situation reduces to a few simple truths: Barcelona have the first option, United’s stance during last summer leaves them with limited leverage, and Rashford’s preference will decide whether any reunion is pursued. For now, Carrick’s preference is clear, but Rashford’s commitment to Barcelona appears to make a return improbable.

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