Exhibit 99.1

Manchester United PLC Reports

Second Quarter Fiscal 2023 Results

Key Points

MANCHESTER, England – 30 March 2023 – Manchester United (NYSE: MANU; the “Company,” the “Group” and the “Club”) – one of the most popular and successful sports teams in the world – today announced financial results for the 2023 fiscal second quarter ended 31 December 2022.

Outlook

For fiscal 2023, the Company reiterates its previous revenue guidance of £590 million to £610 million and its previous adjusted EBITDA guidance of £125 million to £140 million.

Key Financials (unaudited)

⁽¹⁾ Adjusted EBITDA, adjusted (loss)/profit for the period and adjusted basic (loss)/earnings per share are non-IFRS measures. See “Non-IFRS Measures: Definitions and Use” on page 8 and the accompanying Supplemental Notes for the definitions and reconciliations for these non-IFRS measures and the reasons we believe these measures provide useful information to investors regarding the Group’s financial condition and results of operations.

⁽²⁾ In addition to non-current borrowings, the Group maintains a revolving credit facility which varies based on seasonal flow of funds. The outstanding balance of the revolving credit facility as of 31 December 2022 was £200.0 million and total current borrowings including accrued interest payable was £206.2 million. Based on the club’s expected seasonal working capital cycle, it is anticipated that the club would be able to reduce the balance on the club’s facilities to zero at June 30, 2023.

Football

Fan Engagement

Facilities – Venue and Operations

Partnerships

Digital Products & Experiences

Revenue Analysis

Commercial

Commercial revenue for the quarter was £78.7 million, an increase of £14.3 million, or 22.2%, over the prior year quarter.

Broadcasting

Broadcasting revenue for the quarter was £58.7 million, a decrease of £27.7 million, or 32.1%, over the prior year quarter, primarily due to the men’s first team participating in the UEFA Europa League compared to the UEFA Champions League in the prior year.

Matchday

Matchday revenue for the quarter was £29.9 million, a decrease of £4.7 million, or 13.6%, over the prior year quarter, due to playing two less home games in the current year quarter compared to the prior year quarter.

Other Financial Information

Operating expenses

Total operating expenses for the quarter were £167.6 million, a decrease of £12.1 million, or 6.7%, over the prior year quarter.

Employee benefit expenses

Employee benefit expenses for the quarter were £77.3 million, a decrease of £20.4 million, or 20.9%, over the prior year quarter, as a result of squad turnover and the men’s first team not participating in the UEFA Champions League in the current year.

Other operating expenses

Other operating expenses for the quarter were £41.7 million, an increase of £11.9 million, or 39.9%, over the prior year quarter. This is primarily due to the impact of exchange rate fluctuations and rising energy and maintenance costs.

Depreciation and amortization

Depreciation for the quarter was £3.6 million, consistent with the prior year quarter. Amortization for the quarter was £45.0 million, an increase of £6.4 million, or 16.6%, over the prior year quarter, due to investment in the first team playing squad. The unamortized balance of registrations at 31 December 2022 was £445.1 million.

Loss on disposal of intangible assets

Loss on disposal of intangible assets for the quarter was £2.6 million, compared to a loss of £0.3 million for the prior year quarter.

Net finance income/(costs)

Net finance income for the quarter was £12.1 million, compared to net finance costs of £7.5 million in the prior year quarter, due to a favourable swing in unrealized foreign exchange movements in the current quarter compared to an unfavourable swing in the prior year quarter. Income for the current year quarter includes £22.0 million of unrealized non-cash foreign exchange net gains.

Income tax

The income tax expense for the quarter was £2.9 million, compared to an income tax credit of £0.7 million in the prior year quarter.

Cash flows

Overall cash and cash equivalents (including the effects of exchange rate movements) increased by £6.7 million in the quarter to 31 December 2022, compared to a decrease of £11.3 million in the prior year quarter.

Net cash outflow from operating activities for the quarter was £61.5 million, compared to £31.5 million in the prior year quarter.

Net capital expenditure on property, plant and equipment for the quarter was £2.7 million, an increase of £0.9 million over the prior year quarter.

Net capital expenditure on intangible assets for the quarter was £27.8 million, an increase of £11.0 million over the prior year quarter.

Net cash inflow from financing activities for the quarter was £99.4 million, compared to £39.5 million in the prior year quarter. This is due to a £100.0 million drawdown on the revolving credit facilities in the current quarter compared to a £40.0 million drawdown on the revolving credit facilities in the prior year quarter.

Balance sheet

Our USD non-current borrowings as of 31 December 2022 were $650 million, which was unchanged from 31 December 2021. As a result of the year-on-year change in the USD/GBP exchange rate from 1.3486 at 31 December 2021 to 1.2040 at 31 December 2022, our non-current borrowings when converted to GBP were £535.7 million, compared to £477.1 million at the prior year quarter.

In addition to non-current borrowings, the Group maintains a revolving credit facility which varies based on seasonal flow of funds. Current borrowings at 31 December 2022 were £206.2 million compared to £105.2 million at 31 December 2021.

As of 31 December 2022, cash and cash equivalents were £31.0 million compared to £87.4 million at the prior year quarter, primarily due to investment in the first team playing squad.

About Manchester United

Manchester United is one of the most popular and successful sports teams in the world, playing one of the most popular spectator sports on Earth. Through our 145-year football heritage we have won 67 trophies, enabling us to develop what we believe is one of the world’s leading sports and entertainment brands with a global community of 1.1 billion fans and followers. Our large, passionate, and highly engaged fan base provides Manchester United with a worldwide platform to generate significant revenue from multiple sources, including sponsorship, merchandising, product licensing, broadcasting and matchday initiatives which in turn, directly fund our ability to continuously reinvest in the club.

Cautionary Statements

This press release contains forward-looking statements. You should not place undue reliance on such statements because they are subject to numerous risks and uncertainties relating to the Company’s operations and business environment, all of which are difficult to predict and many are beyond the Company’s control. Forward-looking statements include information concerning certain expectations and uncertainties related to the COVID-19 pandemic and the Company’s possible or assumed future results of operations, including descriptions of its business strategy. These statements often include words such as “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “seek,” “believe,” “estimate,” “predict,” “potential,” “continue,” “contemplate,” “possible” or similar expressions. The forward-looking statements contained in this press release are based on our current expectations and estimates of future events and trends, which affect or may affect our businesses and operations. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although the Company believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect its actual financial results or results of operations and could cause actual results to differ materially from those in these forward-looking statements. These factors are more fully discussed in the “Risk Factors” section and elsewhere in the Company’s Registration Statement on Form F-1, as amended (File No. 333-182535) and the Company’s Annual Report on Form 20-F (File No. 001-35627) as supplemented by the risk factors contained in the Company’s other filings with the Securities and Exchange Commission.

Non-IFRS Measures: Definitions and Use

Adjusted EBITDA is defined as profit/(loss) for the period before depreciation, amortization, (loss)/profit on disposal of intangible assets, exceptional items, net finance income/(costs), and tax.

Adjusted EBITDA is useful as a measure of comparative operating performance from period to period and among companies as it is reflective of changes in pricing decisions, cost controls and other factors that affect operating performance, and it removes the effect of our asset base (primarily depreciation and amortization), material volatile items (primarily (loss)/profit on disposal of intangible assets and exceptional items), capital structure (primarily finance income/(costs)), and items outside the control of our management (primarily taxes). Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation, or as a substitute for an analysis of our results as reported under IFRS as issued by the IASB. A reconciliation of profit/(loss) for the period to adjusted EBITDA is presented in supplemental note 2.

Adjusted loss for the period is calculated, where appropriate, by adjusting for charges related to exceptional items, foreign exchange gains/(losses) on unhedged US dollar denominated borrowings and fair value movements on embedded foreign exchange derivatives, adding/subtracting the actual tax expense/credit for the period, and adding/subtracting the adjusted tax credit/expense for the period (based on an normalized tax rate of 21%; 2021: 21%). The normalized tax rate of 21% is the current US federal corporate income tax rate.

In assessing the comparative performance of the business, in order to get a clearer view of the underlying financial performance of the business, it is useful to strip out the distorting effects of the items referred to above and then to apply a ‘normalized’ tax rate (for both the current and prior periods) of the weighted average US federal corporate income tax rate of 21% (2021: 21%) applicable during the financial year. A reconciliation of profit/(loss) for the period to adjusted loss for the period is presented in supplemental note 3.

3. Adjusted basic and diluted loss per share

Adjusted basic and diluted loss per share are calculated by dividing the adjusted loss for the period by the weighted average number of ordinary shares in issue during the period. Adjusted diluted loss per share is calculated by adjusting the weighted average number of ordinary shares in issue during the period to assume conversion of all dilutive potential ordinary shares. There is one category of dilutive potential ordinary shares: share awards pursuant to the 2012 Equity Incentive Plan (the “Equity Plan”). Share awards pursuant to the Equity Plan are assumed to have been converted into ordinary shares at the beginning of the financial year. Adjusted basic and diluted loss per share are presented in supplemental note 3.

Key Performance Indicators

CONSOLIDATED STATEMENT OF PROFIT OR LOSS

(unaudited; in £ thousands, except per share and shares outstanding data)

⁽¹⁾ Each element of finance costs and finance income is split based on its position in both the 3 months ended 31 December 2022 and the 6 months ended 31 December 2022. In the current year, exchange rate fluctuations have resulted in costs and income for the 3 months ended 31 December 2022 that are greater than the total net position across the 6 months ended 31 December 2022.

⁽²⁾ For the six months ended 31 December 2022 and three and six months ended 31 December 2021, potential ordinary shares are anti-dilutive, as their inclusion in the diluted loss per share calculation would reduce the loss per share, and hence have been excluded.

CONSOLIDATED BALANCE SHEET

(unaudited; in £ thousands)

CONSOLIDATED BALANCE SHEET (continued)

(unaudited; in £ thousands)

CONSOLIDATED STATEMENT OF CASH FLOWS

(unaudited; in £ thousands)

SUPPLEMENTAL NOTES

Manchester United plc (the “Company”) and its subsidiaries (together the “Group”) is a men’s and women’s professional football club together with related and ancillary activities. The Company incorporated under the Companies Law (as amended) of the Cayman Islands.

⁽¹⁾ For the three and six months ended 31 December 2022 and the six months ended 31 December 2021 potential ordinary shares are anti-dilutive, as their inclusion in the diluted loss per share calculation would reduce the loss per share, and hence have been excluded.