Core Viewpoint - Manchester United is set to report its first-quarter results, with expectations of improved financial performance driven by on-field success and new broadcasting deals [1][3]. Financial Performance - Analysts estimate first-quarter revenue of $214.99 million, an increase from $186.07 million in the same quarter last year [1]. - The company has beaten revenue estimates in seven of the last ten quarters and aims for a fourth consecutive quarter of revenue exceeding $200 million [2]. - A projected loss of 9 cents per share is expected, an improvement from a loss of 27 cents per share in the previous year [2]. On-Field Performance - The first quarter includes the start of the 2025-2026 English Premier League season, which began on August 15 [3]. - Manchester United currently ranks sixth in the EPL with a record of 7 wins, 4 draws, and 4 losses, showing improvement from previous seasons [4]. Broadcasting and Commercial Revenue - The new domestic television rights deal with Sky Sports and TNT Sports in the UK is anticipated to enhance broadcasting revenue [3]. - The team has been achieving record revenues in its commercial business, indicating strong growth potential [8]. Investment and Valuation - Forbes values Manchester United at $6.6 billion, significantly higher than its current market capitalization of $2.6 billion and enterprise value of $3.4 billion [7]. - The presence of a new minority investor and plans for a new 100,000-seat stadium could further enhance the team's valuation and revenue opportunities [6][8]. Stock Performance - Manchester United stock is currently trading at $15.40, within a 52-week range of $12.05 to $19.65, and has seen a year-to-date decline of 9.3% in 2025 [10].

Company Overview - Manchester United plc is a globally recognized sports team with a rich 148-year football heritage, having won 69 trophies [2] - The club boasts a massive global community of 1.1 billion fans and followers, according to the latest survey data from 2019 [2] - The passionate and engaged fan base allows Manchester United to generate significant revenue from various sources, including sponsorship, merchandising, product licensing, broadcasting, and matchday initiatives [2] Financial Reporting - The company will report its results for the first quarter of fiscal 2026, which ended on September 30, 2025, via press release on December 11, 2025, at 7:00 AM EST [1]

Core Insights - Ariel Investments' "Ariel Fund" reported a +12.39% return in Q3 2025, outperforming the Russell 2500 Value Index (+8.17%) but lagging behind the Russell 2000 Value Index (+12.60%) [1] - The rally in U.S. equities was driven by the Federal Reserve's first rate cut of the year, strong corporate earnings, and increased market participation, particularly in technology and small-cap stocks [1] Company Highlights - Manchester United plc (NYSE:MANU) experienced a one-month return of 19.86% and a 52-week gain of 15.73%, closing at $18.47 per share with a market capitalization of $3.185 billion on October 23, 2025 [2] - Despite strong fundamentals and better-than-expected financial results, Manchester United plc's stock fell during the quarter, although the company raised its full-year outlook due to ongoing cost efficiency initiatives [3] - The club is investing in strategic initiatives, including the redevelopment of the Carrington Training Complex and discussions for a potential new stadium to support long-term growth [3] - Manchester United's global brand positions it well for revenue expansion, talent attraction, and competitive advantage, with compelling commercial opportunities in partnerships, sponsorships, and media rights [3] Hedge Fund Interest - Manchester United plc is not among the 30 most popular stocks among hedge funds, with 21 hedge fund portfolios holding the stock at the end of Q2 2025, an increase from 18 in the previous quarter [4] - While acknowledging Manchester United's investment potential, the company believes certain AI stocks present greater upside potential and lower downside risk [4]

Core Insights - The report by Squawka highlights the performance of Premier League clubs in their first matches after international breaks from October 2020 to the present, with Manchester City and Liverpool showing the best results, while Everton ranks at the bottom [1][2]. Performance Analysis - Manchester City and Liverpool have demonstrated strong performances following international breaks, while Everton and Crystal Palace struggle to regain form quickly [2]. - Liverpool has achieved a four-match winning streak in league games after international breaks, setting a record for the longest consecutive wins [6]. - Manchester City has lost only 1 out of their last 17 matches following international breaks [6]. - Everton has won only 1 out of their last 11 matches, indicating significant struggles [6]. - Crystal Palace is currently on a nine-match winless streak, the longest in the Premier League [6]. Research Methodology - The rankings are based on the performance of clubs in their first matches after international breaks from October 2020 to the present, including metrics such as matches played, wins, draws, losses, goals scored/conceded, goal difference, and points earned [6]. - The analysis includes all teams participating in the 2025/26 Premier League season, with results from promoted clubs in relevant lower leagues also considered [6]. Company Background - Squawka is a football media brand that provides news, data-driven analysis, real-time statistics, and in-depth content focused on the Premier League, UEFA Champions League, and other major global events [5].

Core Viewpoint - Senior officials from Manchester United are in discussions with a UAE-based consortium interested in purchasing the club [2] Group 1 - The Glazer family, current owners of Manchester United, are reportedly meeting with the interested consortium [2]

Core Viewpoint - The Saudi club Al Hilal attempted to sign Manchester United captain Bruno Fernandes for £100 million during the summer transfer window, which caught Fernandes' attention. However, Manchester United rejected the offer. The Saudi club plans to make another attempt in the winter transfer window with a lucrative contract of £700,000 per week tax-free for Fernandes [1][8]. Group 1: Manchester United's Current Situation - Manchester United has had a poor start to the season, winning only 2 out of 6 matches and accumulating 7 points, placing them near the bottom of the league. This has raised questions about the coaching ability of manager Amoryn [1]. - Fernandes has become a focal point of controversy, as he has been assigned a defensive midfield role in Amoryn's tactical setup, which has limited his effectiveness both defensively and offensively, leading to his frustration [1][3][4]. Group 2: Tactical Issues and Player Performance - Fernandes is best suited for the attacking midfield position, where he can control the game's tempo and organize attacks. Despite Manchester United's overall struggles, Fernandes has been a key offensive player with impressive personal statistics [3]. - Amoryn remains committed to his tactical arrangement and does not plan to change the three-center-back formation, which means Fernandes is unlikely to be repositioned. Even with intervention from Manchester United's higher-ups, Amoryn has stated he will not adjust his tactics [6]. Group 3: Potential Transfer to Saudi League - Given Manchester United's poor performance and Fernandes' struggles, the Saudi league presents a timely opportunity for a transfer. The offer of £700,000 per week is feasible, but it remains uncertain whether they will continue to propose the £100 million transfer fee [8]. - The summer transfer window was seen as the best opportunity to sell Fernandes, and the winter window also represents a significant chance. If both Manchester United and Fernandes are open to this change, it could be beneficial for both parties, allowing Manchester United to adjust their squad and explore new strategies [8].

Group 1 - The article discusses the potential for investing in undervalued stocks that are mispriced by the market as the third quarter comes to an end [1] - It suggests that investors may consider joining a platform that provides insights on these investment opportunities [1] Group 2 - There is a mention of a potential long position in a specific stock, MANU, indicating interest in initiating a beneficial investment within the next 72 hours [2] - The article emphasizes that the opinions expressed are those of the author and not influenced by any compensation from companies mentioned [2]

Group 1 - The article discusses the potential for investing in undervalued stocks that are mispriced by the market as the third quarter comes to an end [1] - It suggests that investors may consider joining a platform called Out Fox The Street for insights on these investment opportunities [1] Group 2 - There is a mention of a potential long position in a company referred to as MANU, indicating interest in purchasing stock or options within the next 72 hours [2] - The article emphasizes that the information provided is for informational purposes only and does not constitute a solicitation to buy or sell securities [3]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended 30 June 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHA ...

Market Overview - On September 17, 2025, U.S. stock markets exhibited mixed performance, influenced by the Federal Reserve's interest rate decision and significant corporate news [1][11] - The Dow Jones Industrial Average rose by 304.25 points, closing at 46,062.15, a gain of approximately 0.66%, while the S&P 500 fell by 4.86 points to 6,601.90, a decrease of 0.07%, and the Nasdaq Composite dropped by 95.59 points to 22,238.37, down 0.43% [2] Federal Reserve Decision - The Federal Reserve cut interest rates by 25 basis points, marking the first rate cut of the year, amid signs of a weakening labor market [3] - Investors are awaiting the FOMC meeting minutes and updated "dot plot" projections for insights into future rate paths and economic outlook [3] Corporate News - Nvidia (NVDA) shares declined by approximately 1.6% due to reports that China's internet regulator instructed major tech firms to cease purchasing Nvidia's AI chips [5] - Oracle Corporation (ORCL) shares increased by 1.5% as it is part of a consortium to keep TikTok operational in the U.S. [6] - Chipotle Mexican Grill, Inc. (CMG) shares rose by 1.9% after announcing an additional $500 million for share buybacks, raising total authorization to approximately $750 million [6] - ADTRAN Holdings, Inc. (ADTN) stock plummeted by 15.1% following a $150 million convertible senior notes offering [7] - Dave & Buster's Entertainment, Inc. (PLAY) shares fell by 16.7% after reporting second-quarter earnings significantly below estimates [7] - Workday (WDAY) shares surged by 6.9% after Elliott Investment Management disclosed a stake of over $2 billion in the company [8] - StubHub (STUB) debuted on the NYSE at $23.50 per share following its IPO [9] - General Mills, Inc. (GIS) reported a 7% decrease in net sales for Q1 fiscal 2026, but a 108% increase in operating profit due to a yogurt divestiture [10] - Manchester United plc (MANU) reported an increase in commercial revenue for the 2025 fiscal fourth quarter and full year [10]