Man Utd still £1bn in debt with £63.5m spent on new stadium

Manchester United remains heavily in debt, with the club's overall debt exceeding £1 billion despite Sir Jim Ratcliffe's efforts to reduce costs. The club has spent £63.5 million on land for a new stadium as part of a wider Old Trafford regeneration project. Despite a disappointing season that has left the team 12th in the Premier League and out of the EFL Cup, Manchester United reported record revenues of £677.6 million and a £22.6 million operating profit.

Net finance costs, however, increased by 228.3% to £69.6 million, largely due to a foreign exchange loss. Financial expert Kieran Maguire points out that net finance costs have now surpassed £1 billion since the Glazer family's leveraged buyout in 2005. The club has not disclosed what they have done with the remaining £63.5 million allocated for the new stadium.

Overall, Manchester United's debt, comprising historic debt, revolving credit facility, and transfer fees, remains over £1 billion, even though it has reduced from £1.3 billion at the end of December.