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.
Manchester United still carries an overall debt of over £1 billion, despite Sir Jim Ratcliffe's cost-cutting measures and a £22.6m operating profit in the current financial year. The club has also spent £63.5m on land for their new stadium, bringing their total debt to nearly £1.3 billion. This follows a disappointing season where United finished 12th in the Premier League and were eliminated from the EFL Cup.
Despite not playing in Europe for the first time in a decade, the club reported record revenues of £677.6m. However, net finance costs increased to £69.6m, largely due to a foreign exchange loss. The stadium itself is expected to cost over £2 billion, meaning United's debt remains over £1 billion.
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