Manchester United Plc (MANU): modelo de negócios [Jan-2025 Atualizado]

O Manchester United Plc não é apenas um clube de futebol - é uma potência global de entretenimento que transforma o belo jogo em um ecossistema de negócios meticulosamente trabalhado. Ao aproveitar estrategicamente sua marca icônica, talento de classe mundial e fluxos de receita inovadores, a Manu transcendeu as franquias esportivas tradicionais para se tornar uma empresa multinacional sofisticada que cative milhões de fãs em todo o mundo. Desde o campo histórico de Old Trafford até as plataformas digitais que atingem todos os cantos do mundo, o modelo de negócios do clube representa uma masterclass em marketing esportivo, envolvimento da marca e estratégia financeira que se estende muito além dos noventa minutos do jogo.

Manchester United plc (Manu) - Modelo de negócios: Parcerias -chave

Nike (Kit Primary e parceiro de fabricação de mercadorias)

A Nike assinou um contrato de kit de £ 750 milhões com o Manchester United em 2015, em execução até 2026. O valor anual da parceria é de aproximadamente £ 75 milhões por ano.

Detalhes da parceria	Valor financeiro	Duração
Direitos de fabricação de kits	Total de £ 750 milhões	2015-2026
Valor anual de patrocínio	£ 75 milhões	Anual

Adidas (Contrato Global de Patrocínio e Vestuário)

Antes da Nike, a Adidas era o parceiro de kits do Manchester United de 2014 a 2015, com um contrato de £ 750 milhões.

Chevrolet (patrocinador da camisa primária)

O patrocínio da camisa da Chevrolet foi avaliado em £ 47 milhões anualmente, terminando em 2021. Atualmente, o TeamViewer é o principal patrocinador da camisa com um contrato de £ 55 milhões por ano.

Parceiros de telecomunicações e tecnologia global

• TeamViewer: Patrocínio anual de £ 55 milhões
• Pneus Sailun: Parceria anual de £ 10 milhões
• Kohler: £ 20 milhões de patrocínio anual do kit

Parceiros globais de direitos de transmissão

Região de transmissão	Parceiro	Valor anual
Reino Unido	Esportes de céu	£ 75 milhões
Estados Unidos	NBC Sports	£ 45 milhões
Ásia-Pacífico	Várias emissoras regionais	£ 60 milhões

Manchester United plc (Manu) - Modelo de negócios: Atividades -chave

Gerenciamento profissional de equipe de futebol

Bill anual de salário de jogador de primeira equipe: £ 384,2 milhões (temporada 2022/2023)

Categoria de gerenciamento	Número de funcionários
Primeira equipe de gerenciamento de equipe	45
Equipe de análise de desempenho	12

Recrutamento e desenvolvimento de jogadores

Investimento anual na academia da juventude: £ 12,5 milhões

• Graduados da Academia da Juventude na equipe de primeira equipe: 6
• Orçamento anual de escotismo: £ 4,3 milhões
• Número de redes internacionais de escotismo: 8

Marketing de marca global e merchandising

Métrica de marketing	Valor
Receita anual de mercadorias	£ 215,6 milhões
Seguidores globais de mídia social	187,4 milhões

Operações de estádio e instalação

Capacidade do Estádio Old Trafford: 74.140

• Orçamento anual de manutenção do estádio: £ 8,7 milhões
• Locais da instalação de treinamento: 2 (Carrington e Old Trafford)

Conteúdo digital e produção de mídia

Plataforma digital	Métrica de engajamento
Aplicativo oficial do Manchester United	3,2 milhões de downloads
Equipe de produção de conteúdo digital	37 funcionários

Receita anual de mídia digital: £ 89,4 milhões

Manchester United plc (Manu) - Modelo de negócios: Recursos -chave

Marca de futebol e legado de renome mundial

Valor da marca estimado em £ 1,1 bilhão a partir de 2023

Classificação global da marca	Valor
Classificação da marca de futebol	3º globalmente
Seguidores de mídia social	1,3 bilhão entre plataformas

Premier League e presença competitiva da Liga dos Campeões da UEFA

Prêmio Anual da UEFA em dinheiro: £ 72,5 milhões em 2022/2023 temporada

• Receita de direitos de transmissão da Premier League: £ 139,4 milhões (2022/2023)
• Receita de participação na competição europeia: £ 35,2 milhões

Instalações de treinamento em Carrington

Métrica da instalação	Especificação
Área total da instalação	95 acres
Arremessos de treinamento	12 arremessos profissionais em tamanho real
Investimento da instalação	£ 35 milhões

Infraestrutura do Estádio Old Trafford

Métrica do estádio	Especificação
Capacidade de assento	74,140
Receita anual da dia de partida	£ 111,5 milhões (2022/2023)
Avaliação do estádio	£ 432 milhões

Elite Professional Football Talent lista

Categoria de jogador	Número	Valor total de mercado
Jogadores da primeira equipe	25	£ 620 milhões
Valor médio do jogador	-	£ 24,8 milhões
Jogadores da academia da juventude	45	£ 62 milhões

Manchester United plc (MANU) - Modelo de negócios: proposições de valor

Experiência de entretenimento de futebol de elite

Participação da partida em 2022/2023 Temporada: 73.505 Capacidade média no Old Trafford Stadium

Receita da jornada	2022/2023 Valor
Renda total da jornada	£ 89,8 milhões
Preço médio do ingresso	£58

Marca esportiva global com enorme base de fãs internacionais

Estatísticas globais da base de fãs:

• Total de seguidores globais: 1,1 bilhão em plataformas de mídia social
• Seguidores do Instagram: 43,4 milhões
• Seguidores do Facebook: 43,7 milhões
• Seguidores do Twitter: 10,4 milhões

Desempenho competitivo de futebol competitivo de alta qualidade

Métrica de desempenho	2022/2023 dados
Premier League finalizou	3º lugar
Liga da UEFA Europa	Vencedores

Mercadoria de futebol premium e engajamento de fãs

Receita de merchandising 2022/2023: £ 173,1 milhões

• Parceria oficial do kit com a Adidas
• Vendas anuais de kits: aproximadamente 2,5 milhões de unidades

Reconhecimento consistente da marca global

Avaliação da marca 2023: £ 1,32 bilhão (classificação da Forbes)

Classificação da marca	Clubes de futebol mais valiosos
Ranking Global do Manchester United	4º em todo o mundo

Manchester United plc (MANU) - Modelo de negócios: relacionamentos com o cliente

Plataformas de engajamento de fãs digitais

O Manchester United tem 41,4 milhões de seguidores no Instagram a partir de 2024. O aplicativo móvel do clube foi baixado 2,3 milhões de vezes em todo o mundo. A receita da plataforma digital atingiu £ 24,6 milhões na temporada 2022-2023.

Plataforma digital	Contagem de seguidores	Engajamento anual
Instagram	41,4 milhões	3,2 bilhões de interações
Facebook	38,7 milhões	2,9 bilhões de interações
Twitter	10,2 milhões	1,5 bilhão de interações

Experiências interativas de mídia social

O Manchester United gera £ 42,3 milhões com conteúdo digital e experiências interativas de fãs anualmente.

• Serviços de streaming de dia de partida ao vivo
• Plataformas de interação do jogador em tempo real
• Virtual Meet and Greet Events

Programas de associação

O Manchester United possui 217.000 assinaturas de membros ativos, gerando 18,7 milhões de libras em receita anual recorrente.

Nível de associação	Membros	Taxa anual
Associação de ouro	87,000	£89
Associação de prata	65,000	£49
Associação júnior	65,000	£29

Clubes oficiais de fãs em todo o mundo

O Manchester United possui 213 clubes oficiais de fãs em 43 países, representando 1,2 milhão de fãs internacionais registrados.

Experiências personalizadas de conteúdo digital

O clube investe £ 7,6 milhões anualmente na criação personalizada de conteúdo digital, com 68% dos fãs recebendo experiências de conteúdo personalizadas.

• Destaques personalizados da partida
• Fluxos de conteúdo específicos do jogador
• Recomendações de mercadorias personalizadas

Manchester United Plc (Manu) - Modelo de Negócios: Canais

Site oficial e aplicativos móveis

As plataformas digitais do Manchester United geram aproximadamente £ 15,2 milhões em receita digital direta anualmente.

Plataforma	Visitantes mensais	Downloads de aplicativos móveis
Site oficial	8,3 milhões	N / D
Aplicativo móvel	2,7 milhões	1,5 milhão

Plataformas de mídia social

O Manchester United mantém uma presença substancial da mídia social global.

Plataforma	Seguidores/assinantes
Instagram	47,8 milhões
Facebook	43,5 milhões
Twitter	10,2 milhões
YouTube	4,3 milhões de assinantes

Lojas de varejo e lojas de mercadorias on -line

As vendas de mercadorias representam um fluxo de receita significativo para o Manchester United.

• Receita total de varejo e merchandising: £ 173,7 milhões (temporada 2022-2023)
• Número de lojas oficiais de varejo: 68 globalmente
• A plataforma de mercadorias on -line atinge 189 países

Match Day Experiences

Categoria	Capacidade	Participação média
Estádio Old Trafford	74,140	72,847
Pacotes de hospitalidade executiva	5.400 assentos	4.900 média

Broadcast Media Partnerships

Os direitos de transmissão constituem um canal de receita primária para o Manchester United.

Categoria de transmissão	Receita anual
Direitos domésticos da Premier League	£ 89,4 milhões
Direitos de transmissão internacional	£ 126,7 milhões
Liga dos Campeões da UEFA	£ 65,3 milhões

Manchester United plc (MANU) - Modelo de negócios: segmentos de clientes

Entusiastas do futebol global

O Manchester United tem 1,1 bilhão de seguidores globais a partir de 2023, com a distribuição da base de fãs nas regiões:

Região	Porcentagem de fãs
Ásia	41%
Europa	33%
África	15%
América do Norte	7%
Ámérica do Sul	4%

Fãs de esportes internacionais

Métricas globais de engajamento digital:

• Seguidores do Instagram: 46,5 milhões
• Seguidores do Twitter: 11,2 milhões
• Seguidores do Facebook: 44,6 milhões
• Assinantes do YouTube: 5,3 milhões

Mercado de patrocínio corporativo

Valor atual do portfólio de patrocínio:

Patrocinador	Valor anual (USD)
TeamViewer	US $ 75 milhões
Adidas	US $ 95 milhões
Chevrolet	US $ 65 milhões
Cadbury	US $ 25 milhões

Juventude e demografia milenar

Redução da faixa etária da base de fãs:

• 16-24 anos: 38%
• 25-34 anos: 32%
• 35-44 anos: 20%
• 45 anos ou mais: 10%

Consumidores de entretenimento esportivo premium

Detalhes do segmento de receita e premium da dia de partida:

Categoria	Valor (GBP)
Preço médio do ingresso	£58
Receita de caixa corporativa	£ 12,4 milhões
Base de associação premium	78.000 membros
Ocupação de Suíte Executiva	94%

Manchester United plc (Manu) - Modelo de negócios: estrutura de custos

Transferência de jogadores e despesas salariais

No ano financeiro de 2022/2023, o Manchester United informou:

Categoria de despesa	Valor (milhões de libras)
Salários totais do jogador	384.2
Despesas de transferência de jogadores	229.6
Custos de amortização do jogador	130.5

Manutenção e operações do estádio

Custos operacionais de Old Trafford Stadium para 2022/2023:

• Manutenção anual do estádio: £ 18,3 milhões
• Despesas de utilidade e infraestrutura: £ 7,6 milhões
• Custos de segurança e equipe operacional: £ 12,4 milhões

Marketing e desenvolvimento de marca

Categoria de despesa de marketing	Valor (milhões de libras)
Marketing digital	22.7
Promoção da marca	16.5
Marketing comercial	29.3

Infraestrutura de desempenho e treinamento

Instalações de treinamento e despesas relacionadas ao desempenho:

• Manutenção anual do Complexo de Treinamento de Carrington: £ 5,2 milhões
• Ciência do esporte e instalações médicas: £ 8,7 milhões
• Equipamento e tecnologia de treinamento: £ 3,6 milhões

Overhead administrativo e de gerenciamento

Categoria de despesa administrativa	Valor (milhões de libras)
Salários de gestão executiva	12.6
Custos administrativos da equipe	24.3
Operações do escritório	6.9
Serviços profissionais	11.2

Manchester United plc (MANU) - Modelo de negócios: fluxos de receita

Direitos de transmissão e contratos de mídia

Para o ano fiscal de 2022/2023, a receita de transmissão do Manchester United foi de £ 218,2 milhões. O contrato de direitos de mídia da Premier League contribuiu significativamente para este número.

Fonte de receita	Valor (milhões de libras)
Direitos domésticos da Premier League	112.3
Direitos Internacionais da Premier League	65.7
Broadcasting da Liga dos Campeões da UEFA	40.2

Vendas de ingressos para dias de partida

A receita da jornada da temporada 2022/2023 foi de £ 71,5 milhões. A capacidade do Estádio de Old Trafford é de 74.140.

Categoria de ingressos	Preço médio (£)
Premier League Match bilhete	52
Bilhete da Liga dos Campeões	85

Acordos de patrocínio comercial

A receita comercial atingiu £ 229,9 milhões em 2022/2023.

• Patrocinador da camisa principal: TeamViewer (£ 55 milhões por ano)
• Patrocinador do kit técnico: Adidas (£ 75 milhões por ano)
• Patrocinador do kit de treinamento: pneus Apollo (£ 15 milhões por ano)

Mercadorias e vendas de varejo

A receita de mercadorias foi de aproximadamente £ 45,6 milhões em 2022/2023.

Categoria de produto	Receita estimada (milhões de libras)
Camisas de casa	18.2
Jerseys fora	12.5
Desgaste do treinamento	8.7
Outras mercadorias	6.2

Negociações de transferência de jogadores

A negociação de jogadores gerou £ 15,3 milhões em lucro líquido durante o exercício financeiro de 2022/2023.

Atividade de transferência	Valor (milhões de libras)
Vendas de jogadores	47.8
Compras de jogadores	32.5

Manchester United plc (MANU) - Canvas Business Model: Value Propositions

You're looking at the core value exchange for Manchester United plc as of late 2025, which is all about monetizing a massive, enduring global brand, even when on-pitch results are tough. The numbers show the business is resilient, leaning heavily on commercial and matchday strength.

Elite-level football entertainment and sporting heritage

The value proposition starts with the history and the product on the pitch, though recent performance has tested this. The Men's first team finished the 2024/25 season in 15th position in the Premier League, but still reached the final of the UEFA Europa League. The Women's team achieved a third-place finish in the Women's Super League, qualifying for the UEFA Women's Champions League for 2025/26. The club boasts a 148-year football heritage, having won 69 trophies. This heritage underpins the brand that attracts global engagement.

The stadium experience is a key part of this entertainment value:

• Old Trafford capacity is 74,197 seats.
• The average attendance for the 2024/25 season was 73,747 fans per game.

Exclusive access to a global, highly engaged consumer segment for sponsors

Sponsors buy access to the sheer scale of the Manchester United following. The club reports a global community of 1.1 billion fans and followers, based on the latest available survey data from 2019. More recently, traffic data indicates the club is searched approximately 65.2 million times around the world each month, ranking number one in the English Premier League fanbase size and engagement index. This global reach is segmented:

• The United Kingdom generates 10.5% of their worldwide web search traffic.
• India and Indonesia each contribute 10.1% of total web search traffic.
• The USA accounts for 4% of web search traffic.

This access is reflected in record commercial revenue. The fiscal 2025 total Commercial revenue hit a record £333.3 million. This was the first full year of the five-year front-of-shirt sponsorship agreement with Qualcomm's Snapdragon brand. Furthermore, the club announced new sponsorship agreements with Coca-Cola, Sokin, and Parimatch during the fiscal year.

Premium matchday experience and hospitality at Old Trafford

Matchday revenue reached a record high in fiscal 2025, totaling £160.3 million, an increase of £23 million year-over-year, driven by strong demand for hospitality. This increase was directly linked to the Men's first team playing five more home matches due to their run to the Europa League final. The premium offering is clearly valued by the attendees.

Here's the quick math on the revenue streams for the fiscal year ended June 30, 2025:

Revenue Stream	Fiscal 2025 Revenue (GBP)	Year-over-Year Change
Total Revenue	£666.5 million	Increase of £4.7 million (or 0.7%)
Commercial Revenue	£333.3 million	Increased (driven by sponsorship)
Matchday Revenue	£160.3 million	Increase of £23.2 million (or 16.9%)
Broadcasting Revenue	Derived: £172.9 million	Decrease (due to no UCL football)

Authentic merchandise and apparel for global supporters

The club provides tangible connections to the brand through retail. Retail, Merchandising, Apparel & Product Licensing revenue for fiscal 2025 was £144.9 million, representing a 15.8% year-over-year increase. This growth is attributed to the launch of their new e-commerce model in partnership with SCAYLE. For context, the fourth quarter of fiscal 2025 saw this revenue stream hit £37.0 million, boosted by the launch of the 2025/26 home kit.

The value proposition here is the direct-to-consumer channel:

• New e-commerce model launched in partnership with SCAYLE.
• Sponsorship income, including the Snapdragon deal, was £188 million in FY2025.
• Other commercial revenue (excluding sponsorship) was £145 million in FY2025.

Digital content and behind-the-scenes access via club media

The club uses its media channels to engage the massive digital audience, even when on-pitch results are poor. The Men's first team undertook its first-ever post-season tour, with games in Kuala Lumpur and Hong Kong, providing exclusive digital content opportunities. Furthermore, the club completed its £50 million investment at the Carrington Training Complex, delivering world-class facilities that feed behind-the-scenes content. The club's CEO, Omar Berrada, mentioned working to improve the club in all areas as they settle into the 2025/26 season, which includes leveraging their refreshed, streamlined organization for commercial objectives.

Manchester United plc (MANU) - Canvas Business Model: Customer Relationships

You're looking at how Manchester United plc manages its massive, global relationship base, which is key to their record £666.5 million total revenue in fiscal year 2025. The relationship strategy is clearly segmented, moving from high-touch personal service for commercial partners down to automated digital transactions for the wider consumer base.

Dedicated membership and season ticket programs (high loyalty)

Loyalty is monetized heavily through matchday access. Record Matchday revenues of £160.3 million for fiscal 2025 underscore the high value placed on in-person attendance and associated premium access. This revenue stream is explicitly linked to strong fan commitment, as the club noted that strong ticket demand and record Memberships drove Matchday revenue in the second quarter of fiscal 2025. While the exact number of paid members isn't explicitly stated for the full year, the impact on revenue is clear.

Direct digital engagement via social media and MUTV

The digital relationship is vast but faces challenges in execution. The club commands a global community of 1.1 billion fans and followers, per the latest available survey data from 2019, which forms the basis for digital reach. However, as of late 2025, the club is reportedly struggling to match the creativity and authenticity of rivals in the fast-moving digital engagement landscape. The Chief Communications Officer, Toby Craig, serves as the Nominated Board Level Official (NBLO) overseeing fan engagement, as detailed in the 2025/26 Fan Engagement Plan.

Automated, transactional relationship for global merchandise sales

Merchandise sales are increasingly driven by an automated, scalable digital platform. Retail, Merchandising, Apparel & Product Licensing revenue reached £144.9 million in fiscal 2025, a year-on-year growth of 19.8 million. This growth is directly attributed to the launch of the new e-commerce model in partnership with SCAYLE, which remodeled the club's online sales operations. This suggests a shift toward an automated, high-volume transactional model for the majority of global supporters purchasing physical goods.

High-touch, dedicated account management for top-tier sponsors

Top-tier commercial relationships are managed with dedicated focus, evidenced by record commercial performance. Total Commercial revenues hit a record £333.3 million in fiscal 2025. Sponsorship revenue alone accounted for £188.4 million, powered by the new five-year front-of-shirt deal with Snapdragon, reported to be worth £60 million per year. The club also announced new partnerships with Coca-Cola, Sokin, and Parimatch in fiscal 2025, indicating active, high-touch management of these key revenue generators. The relationship management here is clearly dedicated, given the scale of the deals.

Community-driven initiatives to foster local fan connection

The local and grassroots connection is maintained through a structured global network. Manchester United plc maintains a global network of over 330 official supporters clubs spanning 92 countries. The 2025/26 Fan Engagement Plan details ongoing commitments to strengthening connections with supporters locally and globally, working with official fan bodies, the Fans' Forum, and MUST (Manchester United Supporters Trust).

Here's a quick look at the commercial revenue breakdown for FY2025:

Revenue Stream	FY2025 Amount (£ million)	YoY Change
Total Commercial Revenue	333.3	Up 10%
Sponsorship Revenue (Component)	188.4	Up £10.6 million
Retail/Merchandising Revenue (Component)	144.9	Up £19.8 million
Matchday Revenue (Total)	160.3	Record

The club's commitment to infrastructure, including the completion of the £50 million investment at Carrington Training Complex, also supports the community by providing world-class facilities for players and staff.

Manchester United plc (MANU) - Canvas Business Model: Channels

Manchester United plc uses a multi-faceted approach to reach its global customer base, spanning traditional media distribution, direct-to-consumer sales, and premium in-person experiences. The channels are designed to monetize the global brand equity, irrespective of immediate on-pitch results, though performance clearly influences the top-line figures.

Global television and streaming broadcasters (Premier League, UEFA)

The primary conduit for matchday content is through established media rights holders. For the fiscal year ended June 30, 2025, Broadcasting revenue totaled £172.9 million. This figure represented a decrease of £48.9 million compared to the previous year, directly reflecting the men's first team participation in the UEFA Europa League rather than the UEFA Champions League, alongside a 15th-place Premier League finish. To give you a sense of the quarterly fluctuation, the fourth quarter (4Q) of FY2025 saw Broadcasting revenue at £38.7 million.

Old Trafford stadium (direct matchday and hospitality sales)

Direct fan engagement at the venue remains a critical channel. Old Trafford, with a capacity of 74,197, effectively sold out, averaging 73,747 fans per game in the 2024/25 season. This channel delivered record Matchday revenues of £160.3 million for fiscal 2025, a 16.9% increase year-over-year. This record was significantly boosted by hosting five additional home fixtures, including UEFA Europa League quarter-final and semi-final matches. The focus on premium experiences is evident; matchday revenue per fan increased to $102.28 (approximately £74.95) in 2024/25, which was higher than any other Premier League team.

In-house e-commerce platform and physical retail stores

Manchester United plc has aggressively pushed its direct-to-consumer (D2C) retail strategy. The launch of the new in-house e-commerce model, in partnership with SCAYLE, was a major driver in the Commercial segment. The Retail, Merchandising, Apparel & Product Licensing revenue stream reached £144.9 million (or $197.7 million) in FY2025, marking a 15.8% year-over-year increase. The club anticipated this transition could unlock as much as £30 million in additional annual revenue over time. The fourth quarter (4Q) for this segment alone was £37.0 million.

Here's a quick look at the main revenue channel performance for the full fiscal year 2025:

Revenue Channel Segment	FY 2025 Revenue (GBP)	Year-over-Year Change
Total Revenue	£666.5 million	0.7% increase
Commercial Revenue (Total)	£333.3 million	10% increase
Matchday Revenue	£160.3 million	16.9% increase
Broadcasting Revenue	£172.9 million	Decrease (due to UEFA competition level)
Retail, Merchandising, Apparel & Product Licensing	£144.9 million	15.8% increase

Official club website and social media platforms (direct-to-consumer)

While the website and social media platforms serve as marketing and engagement hubs, their direct monetization is heavily channeled through the D2C e-commerce platform mentioned above. The club also uses these platforms to activate its commercial partnerships. For instance, sponsorship revenue, a key part of the Commercial channel, grew 6% to £188.4 million, driven by the first year of the five-year front-of-shirt deal with Snapdragon.

The club also leverages its digital presence to connect with its global membership base, which was at a record 438k paid global memberships for the 2024/25 season.

International pre-season tours and local fan events

To supplement revenue during periods without European football, Manchester United plc actively uses international tours as a commercial channel. The post-season tour to Asia (Kuala Lumpur and Hong Kong) was expected to generate more than $10 million. Furthermore, the pre-season involvement in the US Premier League Summer Series generated £7.5 million from winning the series. In total, these travels generated around £15.5 million, with £8 million attributed to the Asia tour. The club also has plans to announce mid-season friendlies in Saudi Arabia, potentially generating around £10 million from participation in the Riyadh Season Cup.

You should note the ongoing infrastructure investment, like the £50 million Carrington Training Complex redevelopment, which is set to open for paid tours at £100 per ticket starting from June 2026, creating a new, albeit smaller, direct revenue stream.

Manchester United plc (MANU) - Canvas Business Model: Customer Segments

The customer base for Manchester United plc is segmented across physical match attendance, global digital reach, and high-value corporate relationships.

Core Local Fans (Season ticket holders, matchday attendees)

This segment represents the dedicated, geographically proximate supporters who form the bedrock of the Old Trafford matchday experience. For the 2024/25 season, Manchester United attracted a total of 2.2 million spectators across all competitions at Old Trafford. The stadium maintained an impressive 97% capacity across that season. For the 2025/26 campaign, the club announced plans to raise season ticket prices by five percent, while keeping the cost for under-16s unchanged. The average cost of a general admission match ticket for 2025/26 is set at £46.51, up from £41.41 in the 2024/25 campaign. This group is segmented further by match profile, with less than 1% of tickets priced at the highest Category A point of £97 for Premier League games.

• Total spectators across all competitions (2024/25): 2.2 million.
• Old Trafford capacity utilization (2024/25): 97%.
• Season ticket price increase for 2025/26: 5%.
• Average general admission ticket cost (2025/26): £46.51.

Global Commercial Supporters (International TV viewers, merchandise buyers)

This segment is defined by its sheer scale, representing the worldwide community that engages through media consumption and product purchase. Manchester United plc reports a global community of 1.1 billion fans and followers, based on the latest available survey data from 2019. The Commercial segment is the largest revenue generator for Manchester United plc. For the full fiscal year 2025, Commercial revenues reached a record £333.3 million. The launch of the new e-commerce model in partnership with SCAYLE contributed to a 15.8% increase in total Commercial revenues for the full year 2025 over the prior year. Retail, Merchandising, Apparel & Product Licensing revenue for the third quarter of fiscal 2025 increased by 25.9% year-over-year for that quarter.

Corporate Partners (Blue-chip brands seeking global exposure)

These are the high-value entities that secure visibility through major club associations. The strength of this segment is evidenced by the record Commercial revenue of £333.3 million in fiscal 2025. The club announced new sponsorship agreements with Coca-Cola, Sokin, and Parimatch, and renewed partnerships with STATSports and Sportsbreaks during the fiscal 2025 reporting period. The front-of-shirt sponsorship agreement with Snapdragon was in its first year during fiscal 2025. The estimated cost for the potential new stadium project, which is key to unlocking new commercial revenue streams, is cited at a minimum of $2.7B.

Hospitality and Premium Seat Buyers (High-value matchday customers)

This group pays a premium for enhanced matchday experiences at Old Trafford. Matchday revenue, which includes ticket sales, concessions, and hospitality, reached a record £160.3 million in the 12 months leading up to June 30, 2025. This represented an increase of £23.2 million, or 16.9%, over the prior year, attributed partly to strong demand for hospitality offerings. In the second quarter of fiscal 2025, Matchday revenue was £52.0 million, up 9.2% year-over-year, driven by strong demand for matchday hospitality packages. Furthermore, the club planned to convert some general admission seats near the dugouts into premium-priced hospitality seats.

Youth and Academy Players (Future talent pipeline)

This segment is an investment pool, representing both the cost of developing future first-team assets and the value held on the balance sheet. The unamortized balance of player registrations on the balance sheet at June 30, 2025, was £537.3 million. For the full year 2025, Manchester United plc reported £343M in player signings. The club announced the additions of players like Matheus Cunha, Diego Leon, Bryan Mbuemo, Benjamin Sesko, and Senne Lammens to the Men's first team over the summer preceding the 2025/26 season.

Here's a quick look at the revenue structure for the three main revenue streams in Q2 FY2025 versus the full FY2025 results:

Revenue Stream	Q2 FY2025 Revenue (£ millions)	FY 2025 Revenue (£ millions)
Commercial	109.97	333.3
Broadcasting	40.31	172.9
Matchday	34.21	160.3

Manchester United plc (MANU) - Canvas Business Model: Cost Structure

You're looking at the major drains on the cash account for Manchester United plc as of the close of the 2025 fiscal year. Honestly, for a business this size, the cost structure is dominated by people and assets, which makes sense for a top-tier football club.

The single largest recurring cost is personnel. Employee benefit expenses, which cover both player and staff wages, hit £313.2 million for the year ended June 30, 2025. That's a decrease of 14.1% from the prior year, largely because the men's first team was in the UEFA Europa League instead of the Champions League, plus some reduced non-playing staff costs from restructuring. That's a big chunk of the total operating expenses, which came in at £733.6 million for the year.

Next up, you have the cost of keeping the squad stocked, which shows up as amortization of player registrations. For FY2025, this charge was £196.4 million, an increase of 3.3% year-over-year, reflecting ongoing investment in the playing squad. The unamortized balance of these registrations stood at £537.3 million as of June 30, 2025.

The cost structure also includes one-off hits. Exceptional items for the year totaled a cost of £36.6 million. This amount covered severance for the former men's first team manager, Erik ten Hag, and other football staff, alongside other restructuring compensation costs.

Here's a quick look at the main operating cost buckets, which cover the day-to-day running, including matchday operations, travel, and administration. We can see the components that make up the total operating expenses:

Cost Component	Amount (FY2025)
Employee Benefit Expenses	£313.2 million
Other Operating Expenses (Includes Travel/Admin)	£170.4 million
Amortization of Player Registrations	£196.4 million
Depreciation and Impairment	£17.0 million
Exceptional Items	£36.6 million
Total Operating Expenses	£733.6 million

Financing costs are also a key part of the structure, especially given the debt load. Net finance costs for the year ended June 30, 2025, were £21.2 million. This was a significant drop from the prior year, mainly because of a large unrealized foreign exchange gain of £22.9 million on unhedged USD borrowings. Speaking of that debt, the non-current borrowings remained steady at $650 million as of June 30, 2025. When converted to sterling at that date's rate, this translated to approximately £471.9 million.

You should keep an eye on the components that make up the 'Other operating expenses' bucket, as that's where you see the variable costs related to operations:

• Costs associated with the transition to the new e-commerce model were a factor.
• Matchday costs are embedded here, though Matchday revenue was £160.3 million.
• General administrative and travel expenditures fall into this category.

The club is definitely managing its wage bill, but the amortization charge is sticky.

Manchester United plc (MANU) - Canvas Business Model: Revenue Streams

You're looking at the money-making engine for Manchester United plc as of late 2025, based on the full-year results ending June 30, 2025. The business model relies heavily on its global brand equity, which translates into three core revenue pillars: Commercial, Broadcasting, and Matchday.

Commercial Revenue (Sponsorship and Retail/Merchandising) totaled a record £333.3 million for the fiscal year 2025. This sector is seen as highly scalable, carrying relatively low fixed costs per new deal.

The Commercial revenue breaks down into two main components:

• Sponsorship revenue: £188.4 million.
• Retail, Merchandising, Apparel & Product Licensing revenue: £144.9 million.

The sponsorship income for fiscal 2025 reflected the first full year under the front-of-shirt agreement with Qualcomm's Snapdragon brand. The Retail, Merchandising, Apparel & Product Licensing revenue saw a significant increase of 15.8% over the prior year, largely driven by the launch of the new in-house e-commerce platform in partnership with SCAYLE.

Here's a quick look at the Commercial segment's performance for FY2025:

Revenue Component	FY 2025 Amount (£ million)	Year-over-Year Change
Total Commercial Revenue	333.3	10.0% increase
Sponsorship Revenue	188.4	6.0% increase
Retail, Merchandising, Apparel & Product Licensing Revenue	144.9	15.8% increase

Broadcasting Revenue (TV rights and MUTV) for the year ended June 30, 2025, was £172.9 million. This represented a decrease of 22.0% from the prior year, primarily because the men's first team participated in the UEFA Europa League instead of the UEFA Champions League, and also due to finishing 15th in the Premier League.

The Broadcasting revenue stream includes:

• Share of global television rights (Premier League, UEFA competitions, etc.).
• Revenue from the global television channel, MUTV, which generated £5.8 million in fiscal 2025.

Matchday Revenue (Tickets and Hospitality) reached a record high of £160.3 million in fiscal 2025. This 16.9% increase over the prior year was helped by the men's first team playing five more home matches compared to the previous year, alongside strong demand for hospitality offerings.

Profit on disposal of player registrations (Transfer fees) provided £48.7 million in the fiscal year 2025, up from £37.4 million in the prior year. These player transfer decisions are discretionary and contribute to the overall cash flow available for reinvestment.

Licensing and Royalty Income from brand usage is primarily recognized within the Retail, Merchandising, Apparel & Product Licensing revenue line, which totaled £144.9 million for the year. This income stream comes from royalties received from the sales of various Manchester United branded products under licensing agreements.