United, Inc: Q2 FY26 Results, Cost Cuts, Champions League Upside & Debt Refinancing

United, Inc: Q2 FY26 Results, Cost Cuts, Champions League Upside & Debt Refinancing

#980 | Ed and Jamie review Manchester United’s fiscal 2026 second-quarter results, arguing the numbers look bullish despite no European competition: revenues held up, EBITDA is strong, and the club posted an operating profit of just over £30m. They credit Ineos’ restructuring - about £50m a year removed from the cost base, including redundancies and efforts to rationalise player wages - with improving the club’s financial foundations, while noting debt remains high, cash is low (~£44m), and historic transfer payables are absorbing cashflow. They discuss how Champions League qualification could add ~£80–100m revenue and how Premier League squad-cost rules may help. They flag major debt maturities in 2027 and 2029 and expect refinancing to increase interest costs, plus brief updates on stadium plans, shareholding movement, and optimism driven by improved results and recruitment. 00:00 Introduction 04:12 Cost Restructuring & Wage Bill 13:48 Revenue Breakdown 17:53 Champions League Impact & Future Outlook 20:17 Debt Refinancing Discussion 26:36 Stadium Development & Wrap-up If you are interested in supporting the show and accessing a weekly exclusive bonus episode, check out our Patreon page or subscribe on Apple Podcasts. Supporter funded episodes are ad-free. NQAT is available on all podcast apps and in video on YouTube. Hit that subscribe button, leave a rating and write a review on Apple or Spotify. Learn more about your ad choices. Visit podcastchoices.com/adchoices

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Jaksot(1027)

United Inc: Stadium Financing Options

United Inc: Stadium Financing Options

#1022 | Ed and Jamie discuss United’s Old Trafford redevelopment plans, with the development corporation report into the wider area regeneration project published this week. We go through the likely ...

12 Heinä 44min

Santos Signs

Santos Signs

#1021 | Ed and Dan discuss United’s expected £50m signing of Andrey Santos from Chelsea, weighing fan reactions, Santos’ strengths, and questions about his best role in the team. But the broader mid...

10 Heinä 52min

Transfer Market Freakout

Transfer Market Freakout

#1020 | Ed and Dominic discuss Spurs spending close to £100m on Sandro Tonali and £85m on Matheus Fernandes, triggering online Manchester United fan panic, while United’s only move to date is the deal...

2 Heinä 55min

The Tactics Show: World Cup Trends

The Tactics Show: World Cup Trends

#1019 | Ed and Dharnish review the World Cup group stage through a tactical lens and preview the knockout stages. There’s England’s surprisingly slow play, lack of central connection, and concerns aro...

30 Kesä 54min

New Trafford Moves a Step Closer

New Trafford Moves a Step Closer

#1018 | Ed and Dan on United's step towards a new Old Trafford after the club bought 25 acres next door. Should United move? And if it's inevitable, can the club keep its history and avoid another con...

26 Kesä 1h 2min

United Inc: Refinancing Explained

United Inc: Refinancing Explained

#1017 | It might be the World Cup, but Ed and Jamie talk football finance with Manchester United refinancing $425m of bonds - replacing them with a $550m private placement. Gross annual interest is up...

19 Kesä 51min

Rashford Redemption Arc

Rashford Redemption Arc

#1016 | Ed and Wayne talk about England's win over Croatia, in which a wobbly first half was followed by a much stronger second. Tuchel’s substitutions, a standout performance from Jude Bellingham, an...

18 Kesä 53min

World Cup Preview Part 2: The United Storylines

World Cup Preview Part 2: The United Storylines

#1015 | Ed and Dharnish continue the World Cup preview, working through the groups with the United-related storylines front and centre. There are players, past and present, in across the World Cup gr...

10 Kesä 58min

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