Manchester United football club of England 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.
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.
Toyin Abraham, a Nigerian film actress, filmmaker, director and producer, donated 100,000 naira to purchase 100 sanitizers for 100...
The Cinema Exhibitors Association of Nigeria (CEAN) says it recorded sales of N819 million across cinemas within the country...
Former Arsenal and France international striker Thierry Henry who is in Lagos for the Guinness Made of Black programme...