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Man United’s net debt is over 1 billion dollars after the summer spending
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The Red Devils' net debt breaks 1 billion dollars after the summer transfer window.

Manchester United’s net debt is over 1 billion dollars for the 1st time after borrowing money to spend in the past summer, taking the team’s overall debt to its highest level since the Glazer family took the reins of the club 20 years ago.

In the Red Devils’ 1st-quarter accounts published today, Manchester’s noncurrent borrowings — debt mountain built since the Glazers’ leveraged takeover – were reported at almost 650 million dollars.

But with the club from Old Trafford using a further 105 million pounds from their revolving credit facility – an extra borrowing mechanism — to take their total borrowings to almost 270 million pounds, and now the total debt is over 1 billion dollars.

However, the chiefs of Man United are not concerned with the debt as they shared that they are using the money to transform the team.

“The tough decisions that we made in the last 12 months have brought a sustainably lower cost base and a more streamlined, effective organisation equipped to drive the club forward and be useful for our future.”