(Reuters) -Manchester United reported an annual net loss for the sixth consecutive year on Wednesday and forecast lower revenue for the fiscal year, highlighting the club's ongoing financial struggles.
The Premier League side posted a 33 million-pound ($45 million) loss for the year ended June 30, an improvement on the previous year's 113.2 million-pound deficit.
The narrower full-year loss reflects significant cost-cutting measures aimed at shoring up finances after several years of underperformance
both on and off the field.
The club said it expects revenue of between 640 million pounds and 660 million pounds for its fiscal 2026, compared with 666.5 million pounds reported for the year ended June 30.
The Premier League has in recent years tightened club spending regulations under its Profitability and Sustainability Rules (PSR), designed to level the playing field and curb excessive spending by wealthy owners.
Manchester United has racked up losses of about 175 million pounds since fiscal 2023.
The PSR caps losses at 105 million pounds over a three-year period, though investments in infrastructure, academies, charity and women's soccer are permitted as deductions.
"The club remains committed to, and in compliance with, both the Premier League's Profit and Sustainability Rules and UEFA's Financial Fair Play Regulations," it said in a statement.
($1 = 0.7328 pounds)
(Reporting by Yadarisa Shabong and Shashwat Awasthi in Bengaluru; Editing by Sumana Nandy and Maju Samuel)
