The Nigerian Online Newspaper

United’s debt rises to £366.3m

Manchester United’s debt has risen to £366.3 million, according to figures released today by the club.

United’s net debt has increased by £17.6 million over the past year, primarily due to the continued strength of the US dollar against the pound.

Commercial revenue for the quarter was £66.5 million, an increase of £700,000 on the previous quarter, while sponsorship revenue for the quarter was up 2.1 per cent £39.6 million.

Broadcasting revenue for the quarter was £31.4 million, an increase of £3.6 million, primarily due to the impact of the new Premier League broadcasting deal.

Matchday revenue for the quarter was £29.3 million, down £500,000 on the previous quarter.

Ed Woodward, United Executive Vice-Chairman, said: “As we near the end of the season, I am delighted we have picked up two trophies so far, and look forward to competing for a third in the Europa League final, the only trophy we have never won.

“We are forecasting better full year financial performance than expected and as such have raised our revenue and profit guidance for the year. We look forward to a strong finish to 2016-17, both on and off the pitch.”

The rise in the net debt is due to the affect Brexit has has on exchange rates, with the US Dollar having gone from $1.43 to $1.25, as opposed to United having borrowed more.