#915 | Jamie and Ed dig into United’s full-year 2025 results - headline number: record revenue of £666 million. That’s the good news. The rest is a little murkier. They pick apart Sir Jim Ratcliffe and Omar Berrada’s financial playbook, the Europa League bump that inflated the top line, and the bullish outlook for 2026. There’s plenty of risk too - miss out on Europe again and the house of cards wobbles. The pod takes in transfer profits, debt and credit facilities, and whether the new regime can actually tame United’s long-running addiction to commercial cash. Sponsorships are up, but so are the questions: how sustainable is this model if results on the pitch keep tanking? Finally, the lads look ahead to future reports, stadium and infrastructure investment, and what it all means for United’s ability to compete in the market. Chapters 00:00 Introduction 03:27 Financial performance - revenue, profit, league impact 06:29 Debt position and the credit facility shuffle 10:53 Future outlook and 2026 guidance 14:46 Transfers, player sales, amortisation 17:59 Sponsorships and commercial deals 22:28 Infrastructure investment and future reports 27:46 Closing remarks 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