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Manchester United reported a net loss of £113.2m for the year ending June 30, according to their latest accounts.
This follows losses of £28.7m in 2022-23 and £115.5m in 2021-22, and their latest figures take total losses over the past five years to more than £370m.
Despite the results, United are unlikely to be in breach of the Premier League’s profit and sustainability rules as not all spending goes against their calculations and clubs can claim compensation known as ‘add backs’.
Under Premier League rules, clubs cannot lose more than £105m over a three-year period and Everton and Nottingham Forest have received points deductions for the breach.
“The club remains committed to and compliant with the Premier League’s profit and sustainability rules and UEFA’s Financial Fair Play regulations,” United chief executive Omar Berrada said.
United’s new financial figures cover a period in which they finished eighth in the Premier League and bottom of their Champions League group, but won the FA Cup.
Last season, British billionaire Sir Jim Ratcliffe also bought a 27.7% stake in the club.
United boss Sir Dave Brailsford has conducted a major review of the club’s operations since Ineos’ co-ownership of the club was confirmed in December.
In July, United announced it would cut 250 jobs as part of a cost-cutting drive.
The club says it expects to save between £30m and £35m over two years from 2025 through a “club-wide cost review”.
In addition to the long-standing debt of $650m (£496.52m), United also has a “total current borrowing” of £35.6m, and the outstanding balance of the revolving credit facility as of June 30 was £30m.
United say they expect to generate between £650m and £670m in revenue next year after posting a record £661.8m this year, while wages rose 10% to £364.7m.
United, who will play in the Europa League this season, have won one of their three Premier League games so far.
They signed five players this summer: Manuel Ugarte, Joshua Zirkzee, Leny Yoro, Matthijs de Ligt and Noussair Mazraoui.
