OFF-PITCH EVOLUTION: INSIDE SIR JIM RATCLIFFE’S TRANSFORMATION OF MANCHESTER UNITED’S OPERATING PROFIT
United's PSR escape! Get the details on the £169M accounting loophole and the club's push for a Champions League spot today.
Manchester United’s summer plans are finally taking shape, especially now that we know last summer’s hefty transfer spending will be spread out over the next six years. United splashed out £236 million on new faces during Ruben Amorim’s first transfer window as manager, snapping up Matheus Cunha, Bryan Mbeumo, Benjamin Sesko, Diego Leon, and goalkeeper Senne Lammens.
But here’s the catch: the 2024/25 accounting period only counts deals done before June 30, 2025. Mbeumo, Leon, Sesko, and Lammens all arrived after that date in July, August, and September. Those four cost United a combined £169 million.
In a statement, the club made it official: “After June 30, 2025, we acquired or extended the registrations of certain players and football staff for a total of £169,524,000, including associated costs. Payments are due over the next six years. Also, after June 30, 2025, we became liable for sell-on fees and extra payments totalling £2,119,000 for previous signings.”
By spreading that £169 million over six years, United gets more wiggle room under profitability and sustainability rules. That’s a big deal because it lets the club keep investing this summer, right when they have to decide whether to stick with Michael Carrick as manager or bring someone else in.
This week, United announced its second-quarter financial results, showing an operating profit of £32.6 million for the first half of fiscal 2026. That’s a huge swing from last year, when they posted a £3.9 million operating loss for the same period.
The club credits this turnaround to the early impact of off-field changes after Sir Jim Ratcliffe bought in. Ratcliffe wasted no time tightening things up behind the scenes, aiming to make the club more efficient.
Top executives say United has finally got a handle on its structural costs, which helps boost profits and sets the club up for a stronger run, especially if they clinch a Champions League spot.
CEO Omar Berrada put it this way: “We’re now seeing our off-pitch transformation pay off, both in costs and profitability. We’re still focused on football first, and we’re investing in both our men’s and women’s teams.
“On the pitch, our men are fourth in the Premier League, and our women’s team is second in the Women’s Super League. They’ve also reached the League Cup final and the quarter-final of the UEFA Women’s Champions League.
“Today’s results really show the strength of our business as we keep pushing for the best possible results for both teams.”
United hasn’t lost a Premier League game under Carrick, notching up five wins and a draw. That run has lifted them to fourth, just three points behind Aston Villa. Villa plays Wolves tonight, with Wolves stuck at the bottom of the table.
CONTRACTUAL LIFELINE: UNEARTHING THE STRATEGY BEHIND ANDRE ONANA’S RETURN FROM TURKISH LOAN SPELL
Onana vs Lammens: Get the latest on the £44M keeper’s return from Turkey and why Michael Carrick values "reliability over chaos."
Andre Onana isn’t giving up on his Manchester United career, even with his replacement grabbing the spotlight while he’s away on loan. Right now, Onana’s spending the 2025/26 season with Trabzonspor in Turkey, while Senne Lammens has stepped up as United’s new first-choice keeper.
United signed Lammens from Royal Antwerp for £18 million on deadline day last September, and soon after, Onana was shipped out on loan. There’s no option for Trabzonspor to buy him, so Onana will be back at United this summer. He’s already played 72 games for the club.
Onana has turned out 20 times for Trabzonspor, but honestly, United probably aren’t paying much attention. Lammens has looked rock-solid in goal, holding down the spot for 21 straight matches, no matter if Amorim, Darren Fletcher, or Michael Carrick was in charge.
So far, Lammens has five clean sheets and is anchoring a defence that’s clearly improving under Carrick. Altay Bayindir is backing him up, and Tom Heaton is still kicking around in the goalkeeping group.
When United first bought Onana for £44 million from Inter Milan, he was reuniting with Erik ten Hag, his old Ajax boss. He’s still got two years left on his contract. According to Geremi Onana’s friend and a former Cameroon and Chelsea player, Onana hasn’t lost hope of turning things around.
“Listen, I know Andre very well, and there were a lot of issues at United during his time there,” Geremi told Telecom Asia. “It wasn’t all on him. But with Michael Carrick coming in, things are looking up for everyone, including Andre.
“He’s got real talent, and players like him don’t come around often. The next step is for him to go back and fight for his spot. Andre always rises to a challenge. Give him a fair shot, and he’ll show you what he can do.”
We’ll find out what’s next for Onana this summer. United are planning big changes, including a new permanent manager. Carrick is one of the names in the running.
If Carrick gets the job, Onana’s chances might take a hit, since the interim boss is thrilled with Lammens. After Lammens’ man-of-the-match showing in the 1-0 win over Everton, Carrick said, “For me, a keeper needs to be reliable, someone who calms things down, not adds to the chaos. Senne does exactly that.
“He’s quiet and maybe a bit unassuming, but he’s got real steel in him. Stepping in as United’s keeper is a big ask, and not everyone handles it. Sometimes it takes a while to settle, sometimes not. The way he’s handled it so far, he’s calm and composed, and that’s made a huge difference for the defence.”
EMOTION WITH PURPOSE: ROBERTO MARTINEZ REVEALS THE REAL REASON BRUNO FERNANDES GETS ANGRY
Is Bruno Fernandes leaving Man Utd? Read Roberto Martinez’s defence of the captain and the latest on his 18-month contract news.
Portugal manager Roberto Martinez thinks people don’t give Bruno Fernandes enough credit for what he’s done at Manchester United. Fernandes, now 31, has really driven United’s push for a top-four spot ever since Michael Carrick stepped in as interim manager.
Fernandes almost left for Saudi Arabia, and honestly, United fans should be glad he didn’t. He’s now in the last 18 months of his contract, so no one really knows what’s coming next.
Here’s the thing: Fernandes has scored 104 goals and set up 99 more in 316 games for United. Even with numbers like that, he’s still become a target for criticism. Martinez, who’ll coach Fernandes at this summer’s World Cup, doesn’t think that’s fair at all.
Talking on The Overlap, Martinez said, “He gets judged way too harshly. Honestly, being the captain of Manchester United these past few years must be brutal. What I really respect is that he never hides, no matter what’s going on, he’s always there. I’m not saying he always makes the perfect pass or play, but he’s always in the thick of it. He’s the leader. He’s emotional, but his teammates respect that.”
Martinez went on, “When Bruno gets upset, his teammates notice. It’s not just empty emotion. That’s what sets him apart.”
Gary Neville asked Martinez if Fernandes’ emotional side actually helps the team. Martinez replied, “For Bruno, the emotion means something. Some players get emotional just because that’s how they are, but with Bruno, it’s a signal that something’s off, and he wants it fixed. He always looks out for his teammates. He’d never let anyone down. What really stands out is how consistent he is. Last season, he played more minutes than anyone else in Europe. Being United’s captain during a rough patch and still always showing up, that’s not easy. But Bruno does it.”
This season, Fernandes has racked up six goals and thirteen assists in 26 games across all competitions. That’s impressive, especially since he spent most of the season playing deeper under Ruben Amorim. Since Carrick took over, Fernandes has played every minute, adding four assists and one goal to his tally.
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