Premier League Club Owe Almost £1bn, New Figures Reveal

English Premier League side, Manchester United, owe £969.6m through a combination of gross debt, bank borrowings and outstanding transfer fees with associated payments, according to new figures.

The club released their second quarter results from September to 31 December 2022 on Thursday, March 30.

Compared to the previous year, the amount owed the club has increased significantly..

 The report shows 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.

See Also: Manchester United Chiefs Admit They Overpaid For Antony

In addition, £206.2m has been taken 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 revealed sponsorship revenue has increased 43.2% to £50.4m over the prior 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 detail.

The report also shows 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.

Leave a Reply

Your email address will not be published. Required fields are marked *