# Man Utd still £1bn in debt despite cost cuts

> Manchester United's finances show record revenues but debt remains stubbornly high as interest costs soar and stadium spending accelerates.
- Title: Man Utd still £1bn in debt despite cost cuts · BBC Sport
- Summary: Manchester United's finances show record revenues but debt remains stubbornly high as interest costs soar and stadium spending accelerates. Manchester United…
- Keywords: manchester united, debt, finances, jim ratcliffe, old trafford, stadium project, premier league, squad investment, cost-cutting, interest costs, sports, Man
- Source: BBC Sport — https://bbc.co.uk/sport/football/articles/c5evwlmdmy00o
- Published: 2026-09-23T14:10:21.337+00:00
- Read time: 1 min
- Topics: manchester united, debt, finances, jim ratcliffe, old trafford, stadium project, premier league, squad investment, cost-cutting, interest costs, sports
## United's debt stays above £1bn
Despite Sir Jim Ratcliffe's cost-cutting, Manchester United's overall debt remains over £1bn, down from £1.3bn but still substantial. The club spent £63.5m on land for a new stadium.
## Record revenues but interest costs explode
United posted record revenues of £677.6m and a £22.6m operating profit, but net finance costs jumped 228% to £69.6m, mostly due to foreign exchange losses. Since the 2005 Glazer buyout, finance costs have exceeded £1bn.
## New stadium will cost over £2bn
United confirmed spending £63.5m of a £94.14m refinancing package on stadium land. The new ground, to be built 350 yards from Old Trafford, is projected to cost over £2bn.
## Squad spending lags far behind rivals
United spent £148m on three signings this summer, less than a third of Manchester City's £458m and lower than promoted Ipswich. Fans are angry about no left-back or striker backup despite injuries.
## Aggressive cost-cutting eliminated 450 jobs
Ratcliffe's restructuring led to two rounds of redundancies cutting 450 staff. Salary costs fell £11.3m to £302m, primarily from changes to the men's first-team squad and headcount reductions.
## Women's team also under-invested
United has faced criticism for lack of investment in the Women's Super League squad, who sit second bottom with just one point from three games.
## CEO defends financial discipline
Chief executive Omar Berrada said record revenues demonstrate the club's underlying strength and that they will continue a disciplined approach to ensure financial sustainability.

> We are pleased to have secured record revenues. This demonstrates the underlying strength of our business.
## Key takeaway

Manchester United has cut costs aggressively but remains over £1bn in debt, with rising interest payments and a £2bn stadium project straining finances while fans demand more squad investment.