Man Utd still £1bn debt with £63.5m spent on new stadium
Manchester United's overall debt remains over £1bn despite Sir Jim Ratcliffe's extensive cost-cutting measures, with the club also confirming it has spent £63.5m buying land for their new stadium.
Despite Sir Jim Ratcliffe's cost-cutting measures, Manchester United's overall debt still exceeds £1 billion. The club has spent £63.5 million on land for their new stadium during a summer refinancing move. Amid fan protests and a poor start to the season, United reported record revenues of £677.6 million and a £22.6 million operating profit.
This is a significant improvement from the £113.2 million loss in the previous year. However, net finance costs increased by 228.3% to £69.6 million, primarily due to a foreign exchange loss. The club's total debt, while reduced from £1.3 billion at the end of December, remains over £1 billion, consisting of historic debt, revolving credit facility debt, and transfer fees.
While the club has saved £8.5 million on the projected £16.5 million pay-off to the sacked Ruben Amorim, other costs have increased.
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