Featured image credit: Nat Callaghan on Unsplash
Manchester United posted record revenue of £648.4m (€743.6m/$783.6m) for the 2023 financial year, with the figures driven by new match attendance and hospitality landmarks.
Matchday revenue rose year-on-year from £110.5m to £136.4m. Commercial revenue was also a key contributing factor to the overall total, rising from £257.8m to £302.9m.
The matchday revenue figure rose as a result of United playing seven more home matches across all competitions. United also pointed to strong demand for match-by-match hospitality offers.
For the 2024 financial year, United is forecasting further revenue growth and has introduced revenue guidance of a record £650m to £680m. The club’s new adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) guidance is £140m to £165m.
Ticket sales for the 2022-23 season totalled 2.4 million, surpassing the previous record, set in 2016-17. Current 2023-24 season ticket and executive club tickets have also sold out in record time, with over 150,000 supporters on the season ticket waiting list.
Matchday revenue for United’s Women’s Super League team during the 2022-23 season was nearly three times the figure for the 2021-22 campaign. In a further boost for the women’s team, Old Trafford will host the Manchester derby next month.
The 2023 financial year also saw Old Trafford host five additional events, including Soccer Aid and England’s UEFA Euro 2024 qualifier against North Macedonia. The 2024 financial year has seen United fit an additional 2,000 rail seats in the Stretford End at Old Trafford, with work also continuing to enhance the stadium’s Wi-Fi and introduce new point-of-sale systems.
Earlier this month, it was reported that Ineos, the petrochemicals company owned by British billionaire Sir Jim Ratcliffe, is considering the possibility of expanding Old Trafford to 90,000 if the 70-year-old is successful in his bid to secure a 25-per-cent stake in the club.
The report came after it emerged that Qatar’s Sheikh Jassim bin Hamad Al Thani had withdrawn his offer to buy United outright. Ratcliffe is said to have submitted an offer worth £1.3bn for a 25-per-cent stake.
Ineos has reportedly set aside funds to accelerate plans to redevelop the stadium. The renovation of Old Trafford has been viewed as a key factor in any takeover, with the stadium having fallen behind those of United’s rivals in recent years.
Old Trafford is the largest club stadium in England but it has not been included on the list of host venues for UEFA Euro 2028, which will take place across the UK and Ireland.
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