Manchester United

Squad cost ratio (SCR) for the 2026/27 season: the Orange Ledger's independent estimate for the Premier League's 1 March 2027 test, updated as new data arrives.

SCR under the rule56.9%Range 54.1% to 59.3% · ranked 1 of 20

Before player-sale profit59.8%Squad costs against revenue alone

Distance to 85%28.1 ptsBelow 85%: no levy

Where the revenue goes

Squad costs as a share of revenue

Squad costs under the rule

Player and head-coach wages £232.4m
Transfer amortisation £187.0m
Agents' fees £21.4m
Remaining revenue

The squad costs the same £440.8m in both rings; only what it is measured against changes. Adding the three-year average profit on player sales (£38.2m a year) to revenue takes the ratio from 59.8% to 56.9%, so selling players is worth 2.9 points to Manchester United under the rule.

Squad costs and revenue: the Orange Ledger's estimate for the 1 March 2027 test, rolled forward from the 2024/25 accounts; three-year average of player-sale profit. The 85% tick marks the rule's limit on each ring.

Filed accounts, 2024/25

Revenue, £m: 666.5
Profit before tax, £m, as filed: (30.4)
Net assets, £m: 755.2

Premier League, nearest group accounts as filed at Companies House, read twice. Losses and net liabilities in brackets.

20 seasons of finances →

Next date for Manchester United31 March 2027Manchester United's 2025/26 accounts due at Companies House: the filing that tests this estimateFull calendar →

How the SCR is built

Estimate for the 1 March 2027 test, £m

Player and head-coach wages	232.4
Transfer fees, spread over contracts	187.0
Agents' fees	21.4
Squad costs	440.8
Revenue counted by the rule	737.0
Three-year average profit on player sales	38.2
Revenue plus averaged sale profit	775.2
SCR under the rule	56.9%
Before player-sale profit	59.8%

SCR = squad costs ÷ (revenue counted by the rule + three-year average profit on player sales).

Latest filed accounts

2024/25, year to 30 June 2025, £m

Turnover	666.5
Commercial	333.3
Broadcasting	173.0
Matchday	160.3
Staff costs, all employees	312.9
Transfer fees written off (amortisation)	192.5
Profit on player sales	48.7
Profit or loss before tax	(30.4)
Squad book value (player registrations)	536.2
Transfer fees owed to other clubs	446.6
Transfer fees owed by other clubs	102.4

Turnover, staff costs and the result before tax: Red Football Limited (company 05370076), the group that holds the club and its football companies. Transfer fees, squad book value and profit on player sales: Manchester United Football Club Limited (company 00095489), as filed at Companies House. The SCR uses these accounts, rolled forward to 2026/27.

SCR 2026/27 articles

2025/26 accounts Testing our Manchester United forecast, on the group's accounts 30 September 2026
Summer window Manchester United's squad cost ratio: well inside the line, with a Champions League pay rise already written into the squad 20 September 2026

Figures are from the latest completed checkpoint. They are the Orange Ledger's estimates, not official figures. Manchester United's finances, season by season · All 20 clubs.

Financial sanctions on record

2023UEFA: €300,000 fine. Accepted by the club.

Every decision, with its source, is in the sanctions register.