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Manchester United are almost £1 billion in debt according to new figures

Sam March 31, 2023
View_of_Old_Trafford_from_East_Stand
Image: Wiki Commons

Manchester United are currently facing a financial predicament.

According to new figures released by the club in their second-quarter results for the year ending December 31, the club owes a staggering £969.6m.

This is a combination of gross debt, bank borrowings, and outstanding transfer fees with associated payments.

The club’s principal debt remains at $650m, but a change in the exchange rate means the amount owed in pounds has increased from £477.1m to £535.7m compared to the same point in the previous year.

manchester united debt
The Glazer’s are currently looking to sell Manchester United

In addition, the club has taken £206.2m from a rolling credit facility, and another £227.7m is owed in outstanding transfer fees. Although the club has £31m in cash or equivalent, the overall sum owed is just short of £1bn.

The figures have led some to suggest that Manchester United’s financial situation is “stretched.” However, it is important to note that the ongoing “strategic review” is not due to any issues with short-term liquidity.

The review is centered on how to meet the club’s long-term capital investment needs, specifically for improvements to Old Trafford and the club’s Carrington training ground.

The club’s financial situation is not all bad news, though. Manchester United posted profits of £6.3m for the quarter, and sponsorship revenue has increased by 43.2% to £50.4m over the prior quarter.

The club attributed this to their training kit agreement with Tezos, plus a ‘one-off sponsorship credit’ that they have chosen not to disclose.

In 2005 the Glazer family bought a debt-free Manchester United.
18 years later United owe £968 million and more than £1 billion has been taken out of the club in interest, dividends and bank charges.
Incredible that this has been allowed to happen.

— Kaveh Solhekol (@SkyKaveh) March 31, 2023

Despite the financial challenges, Manchester United has been successful in generating revenue through matchday revenues and impressive season ticket sales.

The club’s wage bill has decreased by £20.4m to £77.3m, a decrease of 20.9%, due to not being in this season’s Champions League.

The ongoing strategic review could lead to the sale of the Premier League club, although this is not certain.

The primary focus is on addressing the club’s long-term capital investment needs, and the financial situation is expected to improve with the club’s successful revenue generation strategies.

In conclusion, Manchester United is currently facing significant financial challenges, owing nearly £1bn through a combination of gross debt, bank borrowings, and outstanding transfer fees.

However, the club’s successful revenue generation strategies have enabled it to post profits of £6.3m for the quarter and increase sponsorship revenue by 43.2%.

While the ongoing strategic review could lead to the sale of the club, the primary focus is on addressing the club’s long-term capital investment needs, and the financial situation is expected to improve.

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