Man Utd still £1bn in debt with £63.5m spent on new stadium
Summary
Manchester United still has over £1 billion in debt despite cost-cutting efforts and spending £63.5 million to buy land for a new stadium. The club reported record revenues of £677.6 million and made a £22.6 million operating profit, but fans are upset about limited investments in the team this summer.Key Facts
- Manchester United’s total debt remains above £1 billion after reducing from £1.3 billion in December.
- The club spent £63.5 million on land for a new stadium, which is expected to cost over £2 billion.
- Record revenues were £677.6 million, with an operating profit of £22.6 million, a big improvement from a £113.2 million loss last year.
- Net finance costs rose by 228.3% to £69.6 million, partly due to losses from foreign currency exchange.
- The club paid £148 million for three new players but spent less on transfers than Manchester City and even Ipswich Town.
- Fans are unhappy about no new left-back or striking players despite injuries in those positions.
- Salary costs dropped by £11.3 million to £302 million due to squad changes and job cuts.
- Manchester United’s women’s team is struggling, currently near the bottom of the Women’s Super League table.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.
