MANCHESTER, England (AP) — Manchester United posted record revenues in its latest annual accounts despite missing out on Champions League soccer and enduring its worst-ever Premier League campaign.

But despite revenues of 666.5 million pounds ($910 million) the 20-time English champion still reported losses of 33 million pounds ($45 million).

“To have generated record revenues during such a challenging year for the club demonstrates the resilience which is a hallmark of Manchester United," chief executive Omar Berrada said.

The accounts for the year ending June 30, 2025 came after minority owner Jim Ratcliffe embarked on cost-cutting measures, which have seen two rounds of job cuts with an estimated reduction of more than 400 members of staff, as well as ticket price hikes.

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