Manchester United CEO Omar Berrada has delivered an update on the club's ambitious plans to build a new £2 billion ($2.7bn) stadium.
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Man Utd shared fiscal results of third quarter
Recorded an operating profit of £0.7m in Q3 of 2024
Berrada remains bullish about infrastructure upgradesFollow GOAL on WhatsApp! 🟢📱WHAT HAPPENED?
In their latest financial report, United revealed strong progress, with revenues up 17.4% and a marked recovery in profitability. The club recorded an operating profit of £0.7 million in the quarter – a significant swing from a £66.2m loss during the same period last year. Adjusted EBITDA surged to £51.2m, a 274% increase compared to Q3 2024 projections.
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During the earnings call, CEO Omar Berrada emphasised a cautious but clear strategy. He acknowledged the club’s subpar Premier League performance last season and expressed confidence in securing improvements next year. He also highlighted the club's infrastructure commitments, including the Carrington training centre revamp and plans for a new 100,000-seat stadium to anchor development in the Old Trafford area.
WHAT BERRADA SAID
The centrepiece of United’s long-term vision is the planned new stadium. Cost estimates currently stand at £2b ($2.7b), with no formal timeline established yet.
"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," he said.
"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."
DID YOU KNOW?
Acknowledging the need for greater fiscal discipline, United have acted to balance its books. The club has cut roles, stopped offering free lunches, and reduced bonuses to restore profitability. These efforts resulted in a reduced net loss of £2.7m for the quarter, markedly improved from the £71.5m loss previously. United have revised their full-year revenue forecast to £660–670m and raised their adjusted EBITDA guidance to between £180–190m, up from previous estimates of £145–160m.
