Man Utd debt rises by £60m to staggering £535.7m despite club making profit as Glazers push for £6bn takeover deal
MANCHESTER UNITED’S debt has risen by a staggering £60million as the Glazers push to sell the club.
The club released financial reports for the second quarter in the period that ended on the final day of last year.
It shows US debt has increased by £60m to an eye-watering total of £535.7m.
The Mail report that Man Utd chiefs are not panicked by the figures and that the jump is accounted for by a shift in the exchange rate between the pound and the dollar.
The figures show that the club has overall made a £6.3m profit across the period despite a 10 per cent decrease in turnover.
The lesser amount has been caused by the World Cup break where Man Utd were not in action and by the club having gained less money as they’re competing in the Europa League and not the Champions League.
There has been a 22 per cent rise in commercial revenue from sponsorship, sale of tickets and hospitality.
The Glazers have also not pocketed a dividend payment after they were slammed for taking home £11m in June.
United’s cash reserves are at £30m and they still have £100m available from a £300m loan.
Reports suggest that £200m will be paid back to even out the credit facility by the end of the season and that the next quarter could be a low point financially.
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The Glazers are looking to potentially sell the club for £6billion.
Talks are ongoing with leading candidates Sir Jim Ratcliffe and Sheikh Jassim Bin Hamad Al Thani.
It remains unclear whether the Glazers will sell, with some reports suggesting there is a split amongst the family over whether to cash in on Man Utd or not.