Manchester United may have celebrated a £32.6 million operating profit this week, but a deeper dive into the numbers reveals a staggering failure in the club’s business model.
While Sir Jim Ratcliffe and INEOS have stabilized the ship, United remain “hundreds of millions of pounds” behind their Premier League rivals in one critical area: Player Sales. Since 2017, United have been the worst-performing club among the ‘Big Six’ when it comes to generating funds from outgoings a gap that now totals over £1 billion compared to Chelsea.
The “Transfer League” (Revenue since 2017)
According to data from football finance expert Kieran Maguire, United’s ability to “sell high” is practically non-existent compared to their peers.
| Club | Revenue from Player Sales (Since 2017) |
| Chelsea | £1,257m |
| Manchester City | £765m |
| Liverpool | £593m |
| Tottenham | £398m |
| Arsenal | £388m |
| Manchester United | £254m |
The figures are damning. Even Manchester City, often criticized for their spending, have generated more than triple what United have in sales.
The “Free Agent” Drain: Eriksen, Lindelof, and Casemiro
The reason for this deficit is a history of poor squad management. United have consistently allowed valuable assets to leave for nothing:
- Last Summer: Both Christian Eriksen and Victor Lindelof walked away as free agents after United failed to cash in during previous windows.
- This Summer: Casemiro is set to follow suit. Despite his high profile, United will receive £0 in compensation when his contract expires on June 30.
By failing to sell players before their contracts dwindle, United are effectively burning hundreds of millions in potential reinvestment capital.
The Sponsorship “Black Hole” Warning
This lack of transfer revenue puts even more pressure on the commercial department. With the Tezos training kit deal already gone (£24m/year) and the DXC Technology sleeve deal (£20m/year) expiring this June, United face a potential £44 million “black hole” in sponsorship income.
If the club cannot arrange new deals for the 2026/27 season, the hard-earned operating profit of £32.6m could be wiped out instantly, leaving the club’s “football-first” mission under Michael Carrick underfunded.
Ronald Mike is a football writer covering the English Premier League, providing match analysis, tactical insight, and coverage of key rivalries and title races across the season.
