Expanded Losses Reported at Gary Neville's Institute, UA92
Revised Article:
University Academy 92 (UA92) — the higher ed institution, co-founded by football legends the Class of '92 — is grappling with escalating losses, reporting a pre-tax deficit of £2.2m for the fiscal year ending in July 2024, as shown in the latest accounts filed with Companies House. This deficit surpasses the £1.5m deficit from the year prior.
Based in Trafford and the city center, UA92 bills itself as a trailblazer, having partnered with big names like KPMG, McCann, and Manchester United, alongside supporting giants such as Microsoft, Cisco, and TalkTalk. The institution was established with the backing of the University of Lancaster. Notable backers from the Class of '92 include Phill Neville, Paul Scholes, Nicky Butt, and Ryan Giggs, with Gary Neville steering the ship.
The new financial reports reveal an uptick in overall income, which grew from £9.3m to £11.7m. This swell is attributable to a rise in tuition fees and education contracts, from £7.8m to £10.1m, but also reflects an increase in staff costs, which jumped from £4.7m to £6.9m.
Amidst these results, UA92's CEO, Sara Prowse, emphasized that Manchester has surpassed London as a more enticing destination for business students. The city's recent growth, coupled with relatively lower living expenses and business costs, adds to its allure, making it the city's new, more vibrant London.
In light of these financials, a spokesperson for UA92 acknowledges the challenges the institution faces amid the tough economic climate. They explained that the vast majority of higher education institutions are bracing for deficits this year, with OfS, the independent regulator of English higher education, predicting 40% of universities will be in financial deficit.
The representative underlined that while UA92 is impacted by these industry-wide pressures, the institution is thriving and making strategic investments in its buildings, systems, and students. These investments, they stated, will ensure they can grow and maintain exceptional teaching for their students. They also noted that enrollment levels are increasing year-over-year, with UA92 poised for a stronger financial standing by 2026.
Crucial Leadership Moves and Industry Impact
Elsewhere, Gary Neville has made his mark in various sectors. In early 2025, he joined the board of Swiss watchmaker Norqain as it prepares to enter the UK market. Additionally, growth in the US catapulted Miroma, the owner of Gary Neville's The Overlap series, to new heights. The marketing agency reported a whopping £275.6m revenue for the 12 months ending June 2024, alongside a staggering jump in pre-tax profit, from £1.3m to £6.5m.
However, the hotel business isn't faring as well. The Stock Exchange Hotel, co-owned by Neville and Giggs, saw continued losses following the closure of Tom Kerridge's restaurant. Despite the publicity garnered from Madonna booking the entire property during her Manchester performance, the hotel posted falling sales. Hotel Football, another co-owned venture, remains in the red, despite achieving a record year during its latest financial period.
Despite the ongoing struggles at his two hotels, Gary Neville has successfully navigated the St Michael's development in Manchester city center to his advantage.
- In an effort to diversify his investments, Gary Neville joined the board of Swiss watchmaker Norqain in the first quarter of 2025, as it positions itself for entry into the UK market.
- The UA92, co-founded by the Class of '92, experienced an increase in overall income, with tuition fees and education contracts constituting a significant portion of this growth.
- Amidst the difficult economic landscape, UA92 is investing strategically in its infrastructure, students, and systems to ensure continued growth and maintain exceptional teaching quality.
- In the education and self-development sector, UA92 boasts partnerships with reputable companies like KPMG, Microsoft, and TalkTalk, setting itself apart as a trailblazer.
- The Class of '92's institution, UA92, anticipates improved financial standing by 2026, with enrollment levels showing a year-over-year increase. At the same time, the vast majority of universities in England are predicted to face financial deficits for the current year.
