Neutral
Seeking Alpha
1 month ago
Manchester United: An Institution Steeped In Legacy, A Business Stuck Mid-Table
Manchester United plc reported Q1 FY26 revenues of £140.3M and adjusted EBITDA of £26.9M, with operating profit swinging positive year-over-year. MANU commercial revenue slipped 1.3% as sponsorships declined 9.3%, highlighting vulnerability to expiring deals and the need to sustain global brand appeal. Retail, merchandising, and product licensing revenue grew 11% due to the fully operational e-commerce platform, reflecting MANU's improved fan engagement and operational adjustments.