Manchester United reported mixed fiscal fourth-quarter 2026 results, with revenue down 4% year over year to £157.5 million and net loss widening to £28.7 million from £3.9 million. Adjusted EBITDA fell 22.9% to £28.9 million, while commercial revenue declined 18.1% because the prior-year period included a postseason tour in Malaysia and Hong Kong. Broadcasting revenue rose 28.4% on improved Premier League performance. The quarterly weakness contrasted with record fiscal-year revenue of £677.6 million and adjusted EBITDA of £216.4 million. Manchester United qualified for the 2026/27 Champions League campaign and forecast fiscal 2027 revenue of £740 million to £760 million and adjusted EBITDA of £205 million to £225 million. Shares fell approximately 4% to around $19.60, compared with a reported 3.17% decline to $19.86, as investors weighed the outlook against debt, reduced cash and the capital needs of a planned 100,000-capacity stadium.