Berrada's 2028 Premier League promise looks hollow as United post £43m loss and £1bn debt

Manchester United CEO Omar Berrada set a bold public target of winning the Premier League by 2028, but the club’s end-of-year financial figures, released on Wednesday, paint a picture that makes that goal increasingly difficult to justify.

United recorded a record revenue of £677m yet still posted a £43m loss, and the club carries over £1bn in debt. The 2028 deadline was chosen deliberately to coincide with the club’s 150th anniversary, with Berrada telling the United We Stand fanzine: “I firmly believe we can do it. We have two or three summer windows to build a team to start competing to win the Premier League.”

The gap between ambition and financial reality is stark. United spent £148m in the summer transfer window — a figure that looks modest against Manchester City’s £458m outlay over the same period. City, Liverpool, and Arsenal are all financially stable and consistently outspend United in the market, leaving the Old Trafford club with little structural advantage in the race for the title.

Berrada responded to the latest figures by stressing fiscal discipline. “We are pleased to have secured record revenues,” he said. “This demonstrates the underlying strength of our business, and shows the direct impact of the work we have been doing over the past two years. While these results confirm that we are on the right trajectory, we will continue to take a disciplined approach to ensure our finances remain sustainable.”

He also pointed to the return of Champions League football to Old Trafford as evidence of progress, alongside reinforcements to both the men’s and women’s squads during the summer.

Yet the summer business itself has drawn scrutiny. United brought in a goalkeeper on a free transfer and three midfielders but failed to address a lack of cover at striker and left-back — gaps that had already exposed the squad by the end of September.

Adding further financial pressure, United refinanced a loan over the summer to acquire land for a proposed new stadium at a cost of £63.5m, with construction estimates reaching up to £2bn.

Berrada’s 2028 target was always designed to project confidence and direction during a turbulent rebuild. But with the club finishing 15th last season, carrying nine-figure losses, and constrained in the transfer market relative to its direct rivals, the promise risks becoming a liability — one the CEO may eventually have to walk back in public.