#1009 | Ed and Jamie review United’s Q3 financial results, noting slightly better-than-expected revenue, improved operating profit versus last year’s loss, and a wage bill at its lowest share of revenue in about a decade, alongside raised guidance. However, United face weak liquidity - around £60m cash- with the revolver credit up to £260m, ongoing outflows for historic transfer fees, and the continuing constraint this places on squad rebuilding. There’s a discussion around the confirmed costs of hiring and firing Amorim (£16.7m compensation plus a £5.2m write-off), the need to refinance roughly £750m of debt amid uncertain interest rates, limited progress on the new stadium, and a Betway training kit deal reported at £20m per year. Player sales continue to be important!

00:00 Introduction and Q3 Headlines

02:11 Financial Results Deep Dive

07:11 Cash, Debt and Transfer Budget

12:51 Carrick and Summer Strategy

16:37 Amorim Compensation Costs

19:37 Debt Refinancing and Stadium Update

26:47 Sponsorship: Betway, DXC

31:53 Player Trading

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