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Manchester United’s debt rises to almost £1 billion

Manchester United’s debt is now close to £1 billion, according to The Times.

Man United have carried a lot of debt for a while now. This is one of many reasons why the current owners, the Glazer family, are so unpopular amongst the supporters – when they first took over in 2005, the club was virtually debt-free.

That debt has drastically risen over the last 18 years. Earlier this year, it was estimated that Tottenham Hotspur were the only English club in more debt (via The Sports Journal), largely down to their new stadium which opened in 2019.

According to The Times, that debt has now risen to a figure close to £1bn.

The debt remains at $650 million. However, changes in the exchange rate between pounds and dollars have increased that figure by £60m.

Additionally, the Red Devils have drawn down £206m from a £300m credit agreement, which they intend to pay back by June 30. They also owe £227m in outstanding transfer fees. This accumulates to a total debt of £968m.

Meanwhile, the club’s wage bill in the final three months of the calendar year plummeted by £5m. This was primarily because of the departure of Cristiano Ronaldo, who was reported to be the highest earner at Old Trafford.

The five-time Ballon d’Or winner departed Man Utd in November in controversial circumstances.

Following growing frustration at his playing time, he took aim at several key figures at the club in an infamous interview with British TV personality Piers Morgan.

Shortly after the interview, the Glazer family announced they intended to sell their stake in Man Utd.

As of now, Sheikh Jassim and Sir Jim Ratcliffe are the two leading parties in the race for the Red Devils.

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