Manchester United will reveal the full extent of their financial problems when the club publishes its annual accounts on Wednesday -- six months after minority owner Jim Ratcliffe said the 20-time Premier League champions risked running out money before the end of 2025.
United, listed on the New York Stock Exchange, issued a statement to investors late on Friday to confirm that the club's fourth quarter accounts covering the financial year until June 30 will be published at 7 a.m. ET (12 p.m. BST) on Sept 17.
In what has been a traumatic year on and off the pitch at Old Trafford, with the team recording its lowest ever Premier League finish and the club making hundreds of staff redundant in a series of job cuts, Ratcliffe, who injected £300 million ($407.4m) of his own money into the club, said in March that United were in significant financial difficulties.
"In super-simple terms, the club has been spending more money than it's been earning now for the last seven years, and it ends in a very difficult place," Ratcliffe said.
"And for Manchester United, that place ended at the end of this year, the end of 2025, with the club running out of cash."
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A year ago, United reported a net loss of £113.2m in their accounts for the year ending June 30 2024. At the same time, the club's gross debt stood at £547m -- 20 years after majority owners the Glazer family completed their leveraged takeover of the previously debt-free club.
The Glazers remain United's majority owners, with Ratcliffe's INEOS Group acquiring a 27.7% stake in Feb. 2024 in order to take charge of football operations at Old Trafford.