Home Sports Manchester United net debt increases by almost £140m in latest financial figure ▷ Kenya News

Manchester United net debt increases by almost £140m in latest financial figure ▷ Kenya News

by kenya-tribune

– Manchester United net debt has increased by almost £140m in latest figure

– The signing of Harry Maguire, Daniel James and Wan-Bissaka caused this

– United’s failure not to qualify for Champions League is also a rationale

A new financial figure released has shown that the debt of Premier League giants Manchester United has risen by almost KSh 18 billion (£140m).

Manchester United fans are now said to be unhappy with the way the Red Devils is run by the Glazer’s family and the executive vice chairman Ed Woodward.

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Spending big on recruiting new players which is an initial £145m on Harry Maguire, Daniel James and Aaron Wan-Bissaka is said to be the major reason for the soaring debt.

For the first quarter of 2019/20 season, revenue increased marginally to £135.4m, up £400,000 from the same period last year.

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Manchester United’s failure to also qualify for this season’s Champions League is also said to have worked against the Old Trafford side.

They will have to win the Europa League title this season for their debt to reduce a little at the end of the term, and they must also struggle to make the top four.

“We have a clear vision in terms of football philosophy and recruitment.

“The significant investments that we have made in recent years in areas such as transfers, recruitment infrastructure, analytics and our academy are already beginning to bear fruit,” vice-chairman Ed Woodward explained according to UK Sun.

The figures published were from the financial year between July 1, 2019 to September 30 of this year.

Net debt is a measure of a club’s total borrowings set against its cash and cash equivalents

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