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Manchester United Plc Reports Third Quarter Fiscal 2025 Results
Key Points The Men's first team reached the final of the UEFA Europa League and finished the 2024/25 season in 15th position; The Women's team reached the FA Cup final and finished the 2024/25 Women's Super League season in third position, qualifying for the UEFA Women's Champions League for the 2025/26 season; The Women's team reached the final of the inaugural World Sevens Football tournament in Estoril, Portugal; The Men's first team has undertaken its first ever post-season tour, with games in Kuala Lumpur and Hong Kong; The Men's first team also announced its preparations for the 2025/26 season, including matches in New Jersey, Chicago and Atlanta as part of the Premier League's Summer Series; The club announced its ambition to build a new world-class 100,000 seater stadium as the centerpiece of a regeneration project across the Old Trafford area with conceptual designs released; Work continues at our Carrington training ground as part of the £50 million investment in a new high-performance focused training facility, expected to be finished in advance of the 2025/26 season; The academy achieved a 2nd place finish in the U18 Premier League North and Chido Obi Martin, Harry Amass and Tyler Fredricson all made first-team debuts in the second half of the season; Total revenues increased 17.4% in the quarter with increases across all three key revenue streams, driven by additional matches played in the quarter as a result of strong performance in the UEFA Europa League and high demand for the Club's hospitality offering; The Company recorded an operating profit £0.7m in the quarter compared to an operating loss of £66.2m in 3Q24; Adjusted EBITDA for the quarter was £51.2 million, up 274% on Q3 fiscal 2024; The club announced measures to improve financial sustainability and enhance operational efficiency as part of a wider transformation plan, with benefits expected to be realised from Q1 of fiscal 2026; For fiscal 2025, the Company tightens its revenue guidance to £660m to £670m and expects to be at the higher end of this range; the Company also raises its Adjusted EBITDA guidance to between £180 million and £190 million. MANCHESTER, England, June 06, 2025--(BUSINESS WIRE)--Manchester United (NYSE: MANU; the "Company," the "Group" and the "Club") today announced financial results for the 2025 fiscal third quarter ended 31 March 2025. Management Commentary Omar Berrada, Chief Executive Officer, commented, "We were proud to reach the final of the UEFA Europa League, but ultimately, we were disappointed to finish as runner-up in Bilbao. We had a difficult season in the Premier League, which we all know fell below our standards and we have a clear expectation of improvement next season. We have been pleased with the performance of our women's team, with a third placed league finish, enabling us to qualify for the UEFA Champions League and once again reaching the FA Cup Final. We followed this by reaching the final of the inaugural World Sevens Series. We extended the contract of Head Coach, Marc Skinner, reflecting the excellent work he has done with the team this season. "We remain focused on infrastructure, with the redevelopment of our Carrington Training Complex continuing and on track, which will be the heart of our club, providing world class facilities for all our teams and our staff. We have also announced our aspiration to pursue a new 100,000 seat stadium, sitting at the heart of the regeneration of the Old Trafford area, which would be a catalyst for growth and investment in our local community. We are continuing to work with all the relevant stakeholders, including central Government, to support their vision for growth." Outlook For fiscal 2025, the Company tightens its revenue guidance to £660m to £670m and expects to be at the higher end of this range. The Company also raises its Adjusted EBITDA guidance to between £180 million and £190 million. The club remains committed to, and in compliance with, both the Premier League's Profit and Sustainability Rules and UEFA's Financial Fair Play Regulations. Phasing of Premier League games Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total 2024/25 season 6 13 10 9 38 2023/24 season 7 13 9 9 38 2022/23 season 6 10 10 12 38 Key Financials (unaudited) £ million (except loss per share) Three months ended31 March Nine months ended31 March 2025 2024 Change 2025 2024 Change Commercial revenue 74.7 69.6 7.3% 245.1 231.7 5.8% Broadcasting revenue 41.3 37.5 10.1% 134.2 183.3 (26.8%) Matchday revenue 44.5 29.6 50.3% 123.0 104.5 17.7% Total revenue 160.5 136.7 17.4% 502.3 519.5 (3.3%) Adjusted EBITDA(1) 51.2 13.7 273.7% 145.3 128.3 13.3% Operating profit/(loss) 0.7 (66.2) 101.1% (3.2) (36.9) 91.3% Loss for the period (i.e. net loss) (2.7) (71.5) 96.2% (29.1) (76.9) 62.2% Basic loss per share (pence) (1.57) (43.12) 96.4% (17.09) (46.87) 63.5% Adjusted loss for the period (i.e. adjusted net loss)(1) (5.5) (40.6) 86.5% (12.1) (29.9) 59.5% Adjusted basic loss per share (pence)(1) (3.19) (24.47) 87.0% (7.07) (18.22) 61.2% Non-current borrowings in USD (contractual currency)(2) $650.0 $650.0 0.0% $650.0 $650.0 0.0% (1) Adjusted EBITDA, adjusted loss for the period and adjusted basic loss per share are non-IFRS measures. See "Non-IFRS Measures: Definitions and Use" on page 6 and the accompanying Supplemental Notes for the definitions and reconciliations for these non-IFRS measures and the reasons we believe these measures provide useful information to investors regarding the Group's financial condition and results of operations. (2) In addition to non-current borrowings, the Group maintains a revolving credit facility which varies based on seasonal flow of funds. The outstanding balance of the revolving credit facility as of 31 March 2025 was £210.0 million and total current borrowings including accrued interest payable was £212.3 million. Revenue Analysis Commercial Commercial revenue for the quarter was £74.7 million, an increase of £5.1 million, or 7.3%, over the prior year quarter. Sponsorship revenue was £42.5 million, an increase of £1.8 million, or 4.4%, over the prior year quarter, primarily due to the new Qualcomm front of shirt sponsorship agreement, partially offset by other changes in our commercial agreements. Retail, Merchandising, Apparel & Product Licensing revenue was £32.2 million, an increase of £3.3 million, or 11.4%, over the prior year quarter, primarily due to the launch of our new e-commerce model in partnership with SCAYLE. Broadcasting Broadcasting revenue for the quarter was £41.3 million, an increase of £3.8 million, or 10.1%, over the prior year quarter, primarily due to the men's first team playing 4 additional matches in UEFA competitions in the current year quarter, partially offset by 1 less match played in domestic cup competitions versus the prior year quarter. Matchday Matchday revenue for the quarter was £44.5 million, an increase of £14.9 million, or 50.3%, over the prior year quarter, due to playing 4 more home matches compared to the prior year quarter, alongside strong demand for our hospitality offering. Other Financial Information Operating expenses Total operating expenses for the quarter were £162.1 million, a decrease of £41.6 million, or 20.4%, over the prior year quarter. Employee benefit expenses Employee benefit expenses for the quarter were £71.2 million, a decrease of £20.0 million, or 21.9%, over the prior year quarter. This is primarily due to the impact of transactions made during the January transfer window, the men's first team participating in the UEFA Europa League rather than the UEFA Champions League in the prior year and reduced non-playing staff costs as a result of the club's restructuring process. Other operating expenses Other operating expenses for the quarter were £38.1 million, an increase of £6.3 million, or 19.8%, over the prior year quarter. This is primarily due to increased matchday costs associated with playing 4 more home games in the quarter, compared to the prior year quarter and additional costs associated with our new e-commerce model, partially offset by a reduction in costs as a result of the company's focus on improving operating efficiency. Depreciation and amortization Depreciation for the quarter was £4.2 million, compared to £4.1 million in the prior year quarter. Amortization for the quarter was £45.9 million, a decrease of £0.4 million, or 0.9%, over the prior year quarter. The unamortized balance of registrations on 31 March 2025 was £513.7 million. Exceptional items Exceptional items for the quarter were a cost of £2.7 million, as a result of compensation for loss of office costs incurred in relation to the restructuring of the club's operations. Exceptional items for the prior year quarter were a cost of £30.3 million. This comprised costs incurred in relation to the sale of 27.7% of the Group's voting rights to Trawlers Limited, an entity wholly owned by Sir Jim Ratcliffe. These voting rights have been subsequently transferred from Trawlers Limited to INEOS Limited. Profit on disposal of intangible assets Profit on disposal of intangible assets for the quarter was £2.3 million, compared to a profit of £0.8 million for the prior year quarter. Net finance costs Net finance costs for the quarter were £3.8 million, compared to £17.3 million in the prior year quarter. The movement was primarily driven by a favourable swing in foreign exchange rates in the current quarter (gain on re-translation of £7.3 million), compared to an unfavourable swing in foreign exchange rates in the prior year quarter (loss on re-translation of £2.6 million). Income tax The income tax credit for the quarter was £0.4 million, compared to a credit of £12.1 million in the prior year quarter. Cash flows Overall cash and cash equivalents (including the effects of exchange rate movements) decreased by £22.5 million in the quarter to 31 March 2025, compared to an increase of £4.2 million in the prior year quarter. Net cash inflow from operating activities for the quarter was £22.3 million, compared to a net cash outflow in the prior year quarter of £15.1 million. This is primarily due to increased matchday and broadcasting income compared to the prior year quarter, in addition to a reduced cost base, as described above. Net capital expenditure on property, plant and equipment for the quarter was £16.9 million, an increase of £13.9 million over the prior year quarter, due to the improvement works taking place to our Carrington training facility. Net capital expenditure on intangible assets for the quarter was £31.3 million, an increase of £15.5 million over the prior year quarter due to investment in the first team playing squad. Net cash outflow from financing activities for the quarter was £0.1 million, compared to a net cash inflow of £38.4 million in the prior year quarter. The prior year quarter saw £158.5 million of proceeds from the issue of shares as part of the transaction agreement with Trawlers Limited, partially offset by a £120.0 million repayment of our revolving facilities. Balance sheet Our USD non-current borrowings as of 31 March 2025 were $650 million, which was unchanged from 31 March 2024. As a result of the year-on-year change in the USD/GBP exchange rate from 1.2632 at 31 March 2024 to 1.2913 at 31 March 2025, our non-current borrowings when converted to GBP were £500.9 million, compared to £511.3 million at the prior year quarter. In addition to non-current borrowings, the Group maintains a revolving credit facility which varies based on seasonal flow of funds. Current borrowings at 31 March 2025 were £212.3 million compared to £143.0 million at 31 March 2024. As of 31 March 2025, cash and cash equivalents were £73.2 million compared to £67.0 million at the prior year quarter. This movement is detailed further in the Statement of Cash Flows on page 11 of this release. About Manchester United Manchester United is one of the most popular and successful sports teams in the world, playing one of the most popular spectator sports on Earth. Through our 147-year football heritage we have won 69 trophies, enabling us to develop what we believe is one of the world's leading sports and entertainment brands with a global community of 1.1 billion fans and followers. Our large, passionate and highly engaged fan base provides Manchester United with a worldwide platform to generate significant revenue from multiple sources, including sponsorship, merchandising, product licensing, broadcasting and matchday initiatives which in turn, directly fund our ability to continuously reinvest in the club. Cautionary Statements This press release contains forward‑looking statements. You should not place undue reliance on such statements because they are subject to numerous risks and uncertainties relating to the Company's operations and business environment, all of which are difficult to predict and many are beyond the Company's control. These statements often include words such as "may," "might," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "seek," "believe," "estimate," "predict," "potential," "continue," "contemplate," "possible" or similar expressions. The forward-looking statements contained in this press release are based on our current expectations and estimates of future events and trends, which affect or may affect our businesses and operations. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although the Company believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect its actual financial results or results of operations and could cause actual results to differ materially from those in these forward-looking statements. These factors are more fully discussed in the "Risk Factors" section and elsewhere in the Company's Registration Statement on Form F-1, as amended (File No. 333-182535) and the Company's Annual Report on Form 20-F (File No. 001-35627) as supplemented by the risk factors contained in the Company's other filings with the Securities and Exchange Commission. Non-IFRS Measures: Definitions and Use 1. Adjusted EBITDA Adjusted EBITDA is defined as loss for the period before depreciation, amortization, exceptional items, profit on disposal of intangible assets, net finance costs and tax. Adjusted EBITDA is useful as a measure of comparative operating performance from period to period and among companies as it is reflective of changes in pricing decisions, cost controls and other factors that affect operating performance, and it removes the effect of our asset base (primarily depreciation and amortization), material volatile items (primarily profit on disposal of intangible assets and exceptional items), capital structure (primarily finance costs), and items outside the control of our management (primarily taxes). Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation, or as a substitute for an analysis of our results as reported under IFRS as issued by the IASB. A reconciliation of loss for the period to adjusted EBITDA is presented in supplemental note 2. 2. Adjusted loss for the period (i.e. adjusted net loss) Adjusted loss for the period is calculated, where appropriate, by adjusting for charges/credits related to exceptional items, foreign exchange gains/losses on unhedged US dollar denominated borrowings (including foreign exchange losses immediately reclassified from the hedging reserve following change in contract currency denomination of future revenues), and fair value movements on embedded foreign exchange derivatives and foreign currency options, adding/subtracting the actual tax expense/credit for the period, and subtracting/adding the adjusted tax expense/credit for the period (based on a normalized tax rate of 21%; 2024: 21%). The normalized tax rate of 21% is the current US federal corporate income tax rate. In assessing the comparative performance of the business, in order to get a clearer view of the underlying financial performance of the business, it is useful to strip out the distorting effects of the items referred to above and then to apply a 'normalized' tax rate (for both the current and prior periods) of the weighted average US federal corporate income tax rate of 21% (2024: 21%) applicable during the financial year. A reconciliation of loss for the period to adjusted loss for the period is presented in supplemental note 3. 3. Adjusted basic and diluted loss per share Adjusted basic and diluted loss per share are calculated by dividing the adjusted loss for the period by the weighted average number of ordinary shares in issue during the period. Adjusted diluted loss per share is calculated by adjusting the weighted average number of ordinary shares in issue during the period to assume conversion of all dilutive potential ordinary shares. There is one category of dilutive potential ordinary shares: share awards pursuant to the 2012 Equity Incentive Plan (the "Equity Plan"). Share awards pursuant to the Equity Plan are assumed to have been converted into ordinary shares at the beginning of the financial year. Adjusted basic and diluted loss per share are presented in supplemental note 3. Key Performance Indicators Three months ended 31 March Nine months ended 31 March 2025 2024 2025 2024 Revenue Commercial % of total revenue 46.6% 50.9% 48.8% 44.6% Broadcasting % of total revenue 25.7% 27.4% 26.7% 35.3% Matchday % of total revenue 27.7% 21.7% 24.5% 20.1% 2024/25 Season 2023/24 Season 2024/25 Season 2023/24 Season Home Matches Played PL 5 4 15 14 UEFA competitions 2 - 5 3 Domestic Cups 2 1 4 3 Away Matches Played PL 5 5 14 15 UEFA competitions 2 - 5 3 Domestic Cups 1 3 2 3 Other Employee benefit expenses % of revenue 44.4% 66.7% 46.6% 53.2% CONSOLIDATED STATEMENT OF PROFIT OR LOSS (unaudited; in £ thousands, except per share and shares outstanding data) Three months ended31 March Nine months ended31 March 2025 2024 2025 2024 Revenue from contracts with customers 160,564 136,693 502,329 519,545 Operating expenses (162,128 ) (203,732 ) (544,206 ) (587,155 ) Profit on disposal of intangible assets 2,271 790 38,662 30,670 Operating profit/(loss) 707 (66,249 ) (3,215 ) (36,940 ) Finance costs (13,783 ) (18,377 ) (44,749 ) (53,720 ) Finance income 10,019 1,057 12,018 1,506 Net finance costs (3,764 ) (17,320 ) (32,731 ) (52,214 ) Loss before income tax (3,057 ) (83,569 ) (35,946 ) (89,154 ) Income tax credit 347 12,069 6,820 12,271 Loss for the period (2,710 ) (71,500 ) (29,126 ) (76,883 ) Basic earnings per share: Basic loss per share (pence) (1.57 ) (43.12 ) (17.09 ) (46.87 ) Weighted average number of ordinary shares used as the denominator in calculating basic loss per share (thousands) 172,353 165,823 170,459 164,040 Diluted earnings per share: Diluted loss per share (pence) (1) (1.57 ) (43.12 ) (17.09 ) (46.87 ) Weighted average number of ordinary shares and potential ordinary shares used as the denominator in calculating diluted loss per share (thousands) (1) 172,353 165,823 170,459 164,040 (1) For the three and nine months ended 31 March 2025 and the three and nine months ended 31 March 2024, potential ordinary shares are anti-dilutive, as their inclusion in the diluted loss per share calculation would reduce the loss per share, and hence have been excluded. CONSOLIDATED BALANCE SHEET (unaudited; in £ thousands) As of 31 March2025 30 June2024 31 March2024 ASSETS Non-current assets Property, plant and equipment 280,008 256,118 254,908 Right-of-use assets 7,394 8,195 7,913 Investment properties 19,503 19,713 19,783 Intangible assets 942,507 837,564 877,283 Deferred tax assets 25,336 17,607 11,010 Trade receivables 47,679 27,930 24,694 Derivative financial instruments 191 380 667 1,322,618 1,167,507 1,196,258 Current assets Inventories 12,003 3,543 3,757 Prepayments 19,460 18,759 17,235 Contract assets – accrued revenue 40,882 39,778 53,887 Trade receivables 123,122 36,999 37,673 Other receivables 1,696 2,735 1,835 Derivative financial instruments 21 1,917 1,539 Cash and cash equivalents 73,211 73,549 66,994 270,395 177,280 182,920 Total assets 1,593,013 1,344,787 1,379,178 CONSOLIDATED BALANCE SHEET (continued) (unaudited; in £ thousands) As of 31 March2025 30 June2024 31 March2024 EQUITY AND LIABILITIES Equity Share capital 56 55 55 Share premium 307,345 227,361 227,361 Treasury shares (21,305) (21,305) (21,305) Merger reserve 249,030 249,030 249,030 Hedging reserve (550) (1,000) (308) Accumulated losses (337,161) (309,251) (271,628) 197,415 144,890 183,205 Non-current liabilities Contract liabilities - deferred revenue 6,234 5,347 6,834 Trade and other payables 181,866 175,894 188,581 Borrowings 500,883 511,047 511,296 Lease liabilities 7,752 7,707 7,603 Derivative financial instruments 3,272 4,911 3,648 700,007 704,906 717,962 Current liabilities Contract liabilities - deferred revenue 171,472 198,628 102,643 Trade and other payables 298,435 249,030 218,042 Income tax liabilities 1,022 427 851 Borrowings 212,318 35,574 142,960 Lease liabilities 836 934 730 Derivative financial instruments 4,333 2,603 1,830 Provisions 7,175 7,795 10,955 695,591 494,991 478,011 Total equity and liabilities 1,593,013 1,344,787 1,379,178 CONSOLIDATED STATEMENT OF CASH FLOWS (unaudited; in £ thousands) Three months ended31 March Nine months ended31 March 2025 2024 2025 2024 Cash flows from operating activities Cash generated from/(used in) operations (see supplemental Note 4) 34,767 (2,584 ) 2,168 (14,725 ) Interest paid (12,952 ) (13,082 ) (31,723 ) (31,838 ) Interest received 667 281 2,423 853 Tax (paid)/refunded (165 ) 268 (464 ) 5,524 Net cash inflow/(outflow) from operating activities 22,317 (15,117 ) (27,596 ) (40,186 ) Cash flows from investing activities Payments for property, plant and equipment (16,856 ) (3,109 ) (34,091 ) (14,949 ) Payments for intangible assets (36,063 ) (18,453 ) (239,720 ) (186,395 ) Proceeds from sale of intangible assets 4,803 2,684 44,141 36,266 Net cash outflow from investing activities (48,116 ) (18,878 ) (229,670 ) (165,078 ) Cash flows from financing activities Proceeds from issue of shares - 158,542 79,985 158,542 Proceeds from borrowings 30,000 - 230,000 160,000 Repayment of borrowings (30,000 ) (120,000 ) (50,000 ) (120,000 ) Principal elements of lease payments (102 ) (180 ) (293 ) (680 ) Net cash (outflow)/inflow from financing activities (102 ) 38,362 259,692 197,862 Effects of exchange rate movements on cash and cash equivalents 3,570 (182 ) (2,764 ) (1,623 ) Net (decrease)/increase in cash and cash equivalents (22,331 ) 4,185 (338 ) (9,025 ) Cash and cash equivalents at beginning of period 95,542 62,809 73,549 76,019 Cash and cash equivalents at end of period 73,211 66,994 73,211 66,994 SUPPLEMENTAL NOTES 1 General information Manchester United plc (the "Company") and its subsidiaries (together the "Group") is a men's and women's professional football club together with related and ancillary activities. The Company incorporated under the Companies Law (as amended) of the Cayman Islands. 2 Reconciliation of loss for the period to adjusted EBITDA Three months ended31 March Nine months ended31 March 2025£'000 2024£'000 2025£'000 2024£'000 Loss for the period (2,710 ) (71,500 ) (29,126 ) (76,883 ) Adjustments: Income tax credit (347 ) (12,069 ) (6,820 ) (12,271 ) Net finance costs 3,764 17,320 32,731 52,214 Profit on disposal of intangible assets (2,271 ) (790 ) (38,662 ) (30,670 ) Exceptional items 2,658 30,340 25,833 39,935 Amortization 45,867 46,262 148,560 143,602 Depreciation 4,254 4,144 12,803 12,399 Adjusted EBITDA 51,215 13,707 145,319 128,326 3 Reconciliation of loss for the period to adjusted loss for the period and adjusted basic and diluted loss per share Three months ended31 March Nine months ended31 March 2025£'000 2024£'000 2025£'000 2024£'000 Loss for the period (2,710 ) (71,500 ) (29,126 ) (76,883 ) Adjustments: Exceptional items 2,658 30,340 25,833 39,935 Foreign exchange (gains)/losses on unhedged US dollar denominated borrowings (7,285 ) 2,641 (8,033 ) 3,062 Fair value movement on embedded foreign exchange derivatives 348 (777 ) 2,079 8,332 Income tax credit (347 ) (12,069 ) (6,820 ) (12,271 ) Adjusted loss before income tax (7,336 ) (51,365 ) (16,067 ) (37,825 ) Adjusted income tax credit (using a normalized tax rate of 21% (2024: 21%)) 1,834 10,787 4,017 7,943 Adjusted loss for the period (i.e. adjusted net loss) (5,502 ) (40,578 ) (12,050 ) (29,882 ) Adjusted basic loss per share: Adjusted loss per share (pence) (3.19 ) (24.47 ) (7.07 ) (18.22 ) Weighted average number of ordinary shares used as the denominator in calculating adjusted basic loss per share (thousands) 172,353 165,823 170,459 164,040 Adjusted diluted loss per share: Adjusted diluted loss per share (pence) (1) (3.19 ) (24.47 ) (7.07 ) (18.22 ) Weighted average number of ordinary shares and potential ordinary shares used as the denominator in calculating adjusted diluted loss per share (thousands) (1) 172,353 165,823 170,459 164,040 (1) For the three and nine months ended 31 March 2025 and the three and nine months ended 31 March 2024, potential ordinary shares are anti-dilutive, as their inclusion in the adjusted diluted loss per share calculation would reduce the loss per share, and hence have been excluded. 4 Cash generated from operations Three months ended31 March Nine months ended31 March 2025£'000 2024£'000 2025£'000 2024£'000 Loss for the period (2,710 ) (71,500 ) (29,126 ) (76,883 ) Income tax credit (347 ) (12,069 ) (6,820 ) (12,271 ) Loss before income tax (3,057 ) (83,569 ) (35,946 ) (89,154 ) Adjustments for: Depreciation 4,254 4,144 12,803 12,399 Amortization 45,867 46,262 148,560 143,602 Profit on disposal of intangible assets (2,271 ) (790 ) (38,662 ) (30,670 ) Net finance costs 3,764 17,320 32,731 52,214 Non-cash employee benefit expense – equity-settled share-based payments 419 431 1,216 1,907 Foreign exchange losses on operating activities 2,883 411 2,731 888 Reclassified from hedging reserve (1,067 ) 2 1,876 - Changes in working capital: Inventories 1,420 267 (8,460 ) (592 ) Prepayments 7,806 9,522 (1,607 ) (1,311 ) Contract assets – accrued revenue 18,965 7,932 (1,104 ) (10,555 ) Trade receivables (38,112 ) 41,849 (87,355 ) (2,506 ) Other receivables 326 230 1,039 8,093 Contract liabilities – deferred revenue 7,836 (48,225 ) (26,269 ) (66,806 ) Trade and other payables (13,876 ) 1,980 1,044 (29,859 ) Provisions (390 ) (350 ) (429 ) (2,375 ) Cash generated from/(used in) operations 34,767 (2,584 ) 2,168 (14,725 ) View source version on Contacts Investors: Roger BellChief Financial Media: Toby CraigChief Communications Sign in to access your portfolio
Daily Mail
15-05-2025
- Sport
- Daily Mail
Man United star, 18, wins club's coveted Young Player of the Year award after breakthrough season under Ruben Amorim
Harry Amass has been named Manchester United 's Jimmy Murphy Young Player of the Year after a breakthrough season for the talented defender. Amass, 18, was handed his first appearance for the senior side off the bench in the win at Leicester in March before making his full debut in the defeat by Newcastle last month. The left-back has since started four more Premier League games under Ruben Amorim, playing 90 minutes in the losses at Brentford and at home to West Ham. He also featured in the home Europa League matches against Lyon and Athletic Club. The teenager arrived at United from Watford in 2023 and has thrived with both the Under-18 and Under-21 teams. While Erik ten Hag was in charge Amass was routinely training with the first team and made the bench for a number of first team games. Amass has also represented England U18s on seven occasions this season, captaining the young Lions against Portugal in victory in March. 'I think [the debut] was a feeling of relief,' Amass said recently. 'I've been waiting for a long time, being patient so when it finally happened, I got into the dressing room and took it all in for a moment by myself. 'When I first signed, it was about developing as a player, getting better, which I think I've done; it was about enjoying my football, which I think I've done with all the experiences and the trophies, and then it was about getting first-team football. And that's come as well. 'So I think all the reasons I've signed have happened. Next is to keep working hard, to show that people can trust me and that I'm a good person off the pitch as well as a good player. Keep giving my best and hopefully get more minutes.' Amass joins a prestigious list of winners of the Young Player of the Year award, named after United's legendary coach Jimmy Murphy. Ryan Giggs, Paul Scholes, Marcus Rashford, Alejandro Garnacho and Kobbie Mainoo are among the stars to have received the prize.
Metro
06-05-2025
- Sport
- Metro
Man Utd plot contract talks with teenage prospect after impressing Ruben Amorim
Manchester United intend to enter contract talks with teenager Harry Amass over the summer after being encouraged by his progress in the first team. The 18-year-old made his Premier League debut this season and has gone on to make four appearances in the top flight, three coming in the starting XI. The left-back has also turned out in the Europa League as he continues to gain experience, capped by England up to Under-18 level. Red Devils manager spoke on how impressed he was on his first Premier League start in defeat to Newcastle last month and Amass looks set to be rewarded with a new contract. The teenager's current deal runs until 2027, but transfer expert Fabrizio Romano reports that a new contract will be discussed in the coming months. Wake up to find news on your club in your inbox every morning with Metro's Football Newsletter. Sign up to our newsletter and then select your team in the link so we can send you football news tailored to you. The full-back was born in London and came through the ranks at Watford, moving to Manchester United in 2023. He has had opportunities early in his career at Old Trafford due to injury problems for Luke Shaw and Tyrell Malacia being loaned out in January. Amass' first Premier League start came in a disappointing 4-1 defeat to Newcastle, but he still caught his manager's eye regardless of the result. 'I think he did quite well,' Amorim said of Amass last month. 'He caught a player that is really fast, he debuted in maybe one of the hardest stadiums with one team that is in a good moment. 'I think he did really well. He needs to continue.' His Premier League debut came in a 3-0 win at Leicester City, two days after his 18th birthday. 'It's an incredible experience,' he said of that outing against the Foxes. 'I'm just proud at the moment and I think my family will be proud of me, everyone watching at home. I'm just grateful for the opportunity and hopefully there's many more to come. 'It all just fell on the right day, with the 18th birthday, so it's not a bad one, is it? More Trending 'When I found out I was very excited. I was warming up down there and got the nod and that's when it was real.' The Red Devils are back in action on Thursday when they host Athletic Bilbao in the second leg of their Europa League semi-final tie. After a 3-0 win in Spain, it would be disastrous if they were not to progress and face either Tottenham or Bodo/Glimt in the final. Amass will hope to be involved after making just one appearance in Europe so far this campaign. MORE: Manchester United open to selling all but four first-team players this summer MORE: Man Utd legend calls out Arsene Wenger for 'strange' Europa League idea MORE: Benjamin Sesko responds to Arsenal transfer interest as release clause increases
Yahoo
20-04-2025
- Sport
- Yahoo
Debut for Fredricson as Man Utd and Wolves name starting XIs
Debut for Fredricson as Man Utd and Wolves name starting XIs Debut for Fredricson as Man Utd and Wolves name starting XIs The starting line-ups are in from Old Trafford where Manchester United take on Wolves in Premier League action. The home side come in off the back of their incredible comeback against Lyon on Thursday night and following that chaos, Harry Amass has been handed his first start for the club, while Tyler Fredricson makes his debut in defence. Advertisement After five games out of the Wolves starting XI, talismanic forward Matheus Cunha returns to their line-up. Man Utd: Onana, Amass, Lindelöf, Fredricson, Mazraoui, Dorgu, Mainoo, Eriksen, Ugarte, Garnacho, Højlund. Wolves: Sá, Semedo, Bueno, Agbadou, Aït Nouri; Andre; Munetsi, Cunha, Strand Larsen. Just three points separate Wolves in 17th and United in 14th ahead of kick-off. 📸 Carl Recine - 2025 Getty Images
Yahoo
18-04-2025
- Sport
- Yahoo
Amorim to play youngsters in Premier League as United focus on Europe
Harry Amass made his European debut for Manchester United against Lyon. Photograph: Zohaib Alam/MUFC/Ruben Amorim will use younger players in Manchester United's next three Premier League fixtures as he prioritises the Europa League semi-final against Athletic Bilbao. United play at Athletic on 1 May and host the return a week later. Matches against Wolves and Bournemouth precede the first leg and United go to Brentford in between the European fixtures. Advertisement Related: Maguire heads winner as Manchester United pull off chaotic comeback against Lyon A thrilling 5-4 extra-time win over Lyon sent United through 7-6 on aggregate and kept alive their hopes of a winning a trophy and qualifying for the Champions League. At least three young players – Harry Amass, Chido Obi and Ayden Heaven – are in line to get more game time than might have been the case. Amorim brought on the 18-year-old Amass in the 100th minute against Lyon on Thursday for his European debut after giving the defender two Premier League appearances. Obi, a 17-year-old forward, has played three times in the league and once in the FA Cup, and Heaven, an 18-year-old defender, has played twice in the league, once in the FA Cup and once in the Europa League. Amorim, who is intent on managing his squad to ensure the best chance of reaching the final, has this month included on the bench five other players who have made academy appearances this season: Jaydan Kamason, Godwill Kukonki, Jack Moorhouse, Sekou Koné and the currently injured Toby Collyer. Advertisement 'It's not the best moment or the best season to put some kids to play because they need a strong base to really show what they can do, but in this moment we need to do it,' Amorim said. 'And sometimes you have surprises. Ayden just played – and I can be honest, because we had a lot of injuries at that moment – but today I think of Ayden as my player. So when he's ready – and of course he's facing competition in the team to do so – he's ready to play, so you don't know. 'Amass did really well [against Lyon]. Chido, when he played he played quite well. It's a difficult moment, it's not the right moment for the kids to play, but if we have to do it we will do it.' Amorim was asked how much risk he would take with selection. 'I have to see,' he said. 'Players like [Diogo] Dalot, they are always ready but he was really tired. The guys that are recent to have an injury, we will try to save them.' Players recently back from injury include Kobbie Mainoo, Mason Mount and Luke Shaw. Amorim namechecked Matheus Cunha after saying Wolves, Sunday's visitors, have 'real quality players'. The head coach was asked whether the Brazilian forward, who has 16 goals this season and would welcome a summer move, was a target. 'I just gave the example because I remembered about Matheus – he's scoring a lot of goals,' he said. 'Just that.' Advertisement Unrelated family issues led to Noussair Mazraoui being replaced at half-time against Lyon and the substitute Victor Lindelöf also leaving Old Trafford. Amorim said Lindelöf was available to face Wolves and indicated Mazraoui would be too. 'Everything is OK now,' he said of Lindelöf. 'I know that football is really important but there are things that are more important and then they will be ready to face the next game.' Amorim called on the supporters to back the team against Wolves. 'I know it is a bad thing to ask anything this season from our fans but we need them on Sunday,' he said.
