English Football Club Giants, Manchester United Are In Debt Of Almost £1bn, New Figures Reveal

Manchester United football club of England owes a total of £969.6m through a compound of gross debt, bank borrowings and outstanding transfer fees with associated payments, as stated by to new figures.

The club disclosed their second quarter results from September to 31 December 2022 on Thursday, March 30, when compared to the previous year, the amount owed the club has increased notably.

The report reveals the principal debt remains at $650m, a change in the exchange rate meant the club owed £535.7m compared to £477.1m at the same point in the previous year.

In addition, £206.2m has been withdrawn from a rolling credit facility, with another £227.7m owed in outstanding transfer fees. The club did have £31m in cash or equivalent, but the overall sum remains just short of £1bn.

In posting profits of £6.3m for the quarter, United have also disclosed that sponsorship revenue has increased 43.2% to £50.4m over the previous quarter. The club said this was due to the impact of their training kit agreement with Tezos, plus a ‘one-off sponsorship credit’, which they have opted not to reveal details.

The report also reveals that wages are down £20.4m to £77.3m, a decrease of 20.9% as Erik ten Hag’s team are not in this season’s Champions League.