Ahead of this forthcoming summer's transfer window, Manchester United are already being linked with a catalogue of players.
12.03.2024 - 12:14 / manchestereveningnews.co.uk
Manchester United's debt stands at £773.3million after the club released their latest financial figures for the three months ending December 31, 2023.
The results saw United post healthy revenues of £225.8million, although that was primarily down to their participation in the Champions League. Their early exit from Europe will only be reflected in forthcoming financial results.
That is an increase in revenue of 34.9% year-on-year and net profit also rose to stand at £20.4million for the three months. Matchday revenues were up 59.2% from the same period last year and broadcasting revenue went up by 81%, both as a result of playing in the Champions League rather than the Europa League.
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The results also include the agreement of a minority investment from Sir Jim Ratcliffe but they also reveal that United remain heavily in-debt, both through long-term debt and the revolving credit facility that the club uses throughout the year.
The long-term debt remained unchanged - at $650million - from this time last year, but a fall in the exchange rates between the US dollar and GBP means that debt has fallen from £535.7million to £506.5million in the previous three months.
United also use a revolving credit facility, which has been described as like a company credit card and varies "based on seasonal flow of funds." The amount owed on the facility rose as a result of spending in the summer transfer market and on December 31, 2023, it stood at £266.8million, which is an increase of more than £60million from the previous year.
The financial results also detail that United
Ahead of this forthcoming summer's transfer window, Manchester United are already being linked with a catalogue of players.
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