Such is the need for clubs to find new ways of bringing in huge sums of cash, there isn’t much that is off the table, or that at least warrants some kind of discussion around its feasibility.
On Wednesday it emerged, as first reported by The Athletic, that Manchester United were considering a mid-season visit to Saudi Arabia in order to bring in some much-needed additional revenue, with a potential exhibition match in the nation’s capital, Riyadh, on the agenda.
At this stage, United’s interest in playing such a fixture during a break in the Premier League season is exploratory, but with the club having enduring competitive struggles on the pitch there has been an impact felt off it, and for such a globally recognised sporting brand as United, growth is vital.
Man United Need to Generate Revenue After On-Pitch Troubles
Last month saw the club publish its financial accounts for the 2024/25 period. As a public limited company that has its shares traded on the New York Stock Exchange, United are duty bound to report quarterly earnings, so there was little surprise in the figures released to shareholders.
A £666.5m revenue figure was the standout number, one that set a new club record with a 0.7% increase year-on-year. But it didn’t tell the true story of where Manchester United are at right now, despite the net loss of £33m being down almost 71% year-on-year from £113.2m in 2023/24.
Last season’s 15th placed finish in the Premier League was the club’s worst competitive performance in the top flight of English football for 51 years, and while they reached the UEFA Europa League final, defeat to Tottenham Hotspur meant that they were unable to punch their ticket to lucrative Champions League football this season, meaning that there is no additional income arriving into the club from European football in 2025/26, and that also impacts both matchday revenues and commercial revenues.
One of the most concerning aspects of the financials from a United standpoint was that the forecast for 2025/26, the current financial year, was a decline in revenue, with a sum of between £640m and £660m the guidance given. At a time when the club is looking to go to market to raise capital for the ambitious plans for a new 100,000-seater stadium next to Old Trafford, with a conservative cost price attached of £2bn, a club with declining revenue is not the best look.
Clubs are now having to think outside the box a little when it comes to revenue generation, and United, despite the challenges on the pitch in the years since Sir Alex Ferguson’s departure, still remain one of the most iconic teams and recognisable brands in sport, and that has endured.
Taking a team to play an exhibition match in Riyadh wouldn’t be the panacea for all that ails Manchester United, but it would provide a financial boost. The post-season trip to Malaysia and Hong Kong that the club embarked on in the immediate aftermath of last season ending generated more than £8m for the club across two games.
Any game would have to adhere to Premier League rules and only be organised when fixtures have been fixed and set for TV coverage and to take into account any schedule conflicts from domestic competitions. But such exhibition games abroad would not contravene Premier League rules were they to stay within these guidelines.
United Would Benefit From Match With Cristiano Ronaldo
It is likely a trip to Saudi Arabia would be more financially fruitful for Manchester United than what the Malaysia and Hong Kong trip was. There will be a considerable amount of money likely to be put up to entice a game between Cristiano Ronaldo’s Al-Nassr and his former club, a clash that could represent the final time the legendary forward faces United in his career. A bumper crowd and considerable commercial interest in such an event would be almost guaranteed.
There is a little more at play here. For some time the desire of Saudi Arabia to assert itself on the global sports scene through such things as the acquisition of Newcastle United and the rise of LIV Golf was designed to bring the Gulf nation to the world, when the playbook is really about bringing the world to the Gulf nation. Think the heavyweight title fight between Oleksandr Usyk and Tyson Fury last year, or the plan for WWE’s WrestleMania to be held in Riyadh in 2027. Riyadh Season, since 2019, has been all about bringing elite sports and entertainment to the Saudi capital, and that has even extended beyond borders, with the recent boxing clash between Canelo Alvarez and Terence Crawford being fought under the Riyadh Season banner in Las Vegas.
Saudi Arabia now has a Formula One Grand Prix and will host the FIFA World Cup in 2034. The goals of the government, through sovereign wealth funds like the PIF, Newcastle’s owners, is to shape the nation as a destination for the world, and sport is a vital tool in achieving that.
For a mid-season game that featured Ronaldo and Manchester United, it’s hard to put a figure on what might be achievable, but a conservative estimate would be that it would at least double the value of the end-of-season trip earlier this year. It would depend on appetite and just who could be lined up as opponents as to how much people would be willing to pay to make it happen.
Premier League clubs have often gone for mid-season breaks abroad, often playing behind-closed-doors games against local opposition. In United’s case, former boss Erik ten Hag took his side to Spain in December 2022 during the World Cup in Qatar where games against Cadiz and Real Betis took place. But this is different, this would be a commercially driven move that would drive global interest given its significance on a number of levels.
Importantly, United’s Chief Commercial Officer Marc Armstrong, hired earlier this year, brings direct experience in delivering such events. During his time at Paris Saint-Germain, Armstrong oversaw the club’s exhibition match in Saudi Arabia in January 2024—a high-profile fixture that featured Lionel Messi and Ronaldo and drew global attention. His familiarity with the logistics, regulatory frameworks, and commercial structuring of such events would be a boon to United in navigating such a plan.
United Could Face Backlash Over Saudi Visit
The lack of a firm decision on whether or not to proceed will be around the logistics, whether it is workable within the confines of the Premier League’s rules, but also what the backlash could be.
The idea is not without controversy. Some fan groups may view the move as a cynical cash grab, prioritising commercial interests over sporting integrity or supporter values. Concerns around Saudi Arabia’s human rights record could also provoke backlash, particularly from fans who expect the club to uphold certain ethical standards. Similarly, existing commercial partners—especially those with strong environmental, social and governance commitments—may be wary of association with a regime that has faced international scrutiny.
Yet, for United, the opportunity to deepen ties in the Middle East is strategically significant. The region has become a focal point for global sport. It also presents the club with the chance to claw back some of the huge sums of money that was missed out on through a lack of Champions League football, with the potential returns from competing in the competition bringing in more than £120m at the top end when prize money, success and matchday revenue is considered.