Contents (40 sections)SummaryHeadline financial figuresRevenue analysisCommercial: the e-commerce gross-upSponsorship: stagnation in nominal termsBroadcasting: the cost of 15th placeMatchday: volume and priceCost base and restructuringEmployee costsExceptional itemsKey management remunerationOther operating costsProfitability: Reported versus underlyingTaxPlayer registrations and transfer economicsProfit on disposalThe transfer credit chainCash flow and liquidityWorking capital and the revolving facilityContractual maturity profileDebt and capital structureLeverage … Continue reading The Analysis Series: Manchester United plc annual report, financial year ended 30 June 2025