Overview
- Total revenue slipped 2% to £140.3m, with broadcasting and matchday income lower due to the men’s team missing European competition.
- Operating profit was about £13m as employee benefit expenses fell by £6.6m (around 8.2%) following a Ratcliffe-led restructuring and redundancies.
- Sponsorship revenue dropped 9.3% to £47m after the Tezos training-kit deal expired, and the club says talks with potential partners are progressing.
- After finance costs, the quarter showed a headline loss in some accounts (including a £6.6m net loss), underscoring the gap between operating and bottom-line figures.
- Net debt rose to roughly £749m (about $1bn) after additional borrowing, while the club reaffirmed guidance for £640–£660m in full-year revenue and £180–£200m in core profit.