Car-crash Man Utd see debt surpass £1bn for first time after takeover decision
Manchester United are now in over £1billion worth of debt amid the club's seemingly never-ending takeover saga.
The Glazers, who put United up for sale in November 2022, are yet to find a buyer despite receiving bids of around £5bn from two separate parties; British billionaire Sir Jim Ratcliffe and Qatari mogul Sheikh Jassim bin Hamad Al Thani.
The American family, who were reportedly holding out for £6bn, are now considering taking the Red Devils off the market in a move that will infuriate United fans, many of whom are desperate to see the backs of the owners, who have been in charge since 2005.
The amount of debt held against the club is one of the main reasons the Glazers are so unpopular, and according to the Daily Mail, the total figure has now surpassed the £1bn mark – up from £969million at the end of the second fiscal quarter.
READ MORE: 'Erik ten Hag needs more players and more quality to take Man Utd to the next level'
This is due to a combination of gross debt, bank borrowings and outstanding transfer fees, with the club bringing in £500m worth of new talent in the last 24 months.
Total outstanding transfer fee cost has risen to £279.8m this year – up from £227.7m – and may rise further as the figure does not include the club’s summer deals.
While the club’s principal debt remains at $650m, a change in the exchange rate meant the club owed £521.5m, compared to £535.7 earlier this year. Bank borrowings, meanwhile, fell slightly from £206.2m to £203.7m.
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However, the club have revised up expected revenues to a club-record £630m to £640m. They have also extended their kit deal with adidas. The agreement is worth £900m over 10 years.
Nevertheless, the club have increased their anticipated revenues to a club-record £630m to £640m. Additionally, they have extended their kit deal with adidas in a agreement valued at £900m over 10 years.
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On the field, Erik ten Hag's side have started the season underwhelmingly. A narrow opening day win over Wolves left a lot to be desired, as did a scrappy 3-2 win over Nottingham Forest 12 days later, while defeats to both Tottenham and Arsenal have sparked genuine concern among the fanbase.
Up next is a clash with Brighton at Old Trafford before a mouth-watering Champions League encounter with Bayern Munich at the Allianz Arena.
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