Manchester United’s total debts reached a record level of 1.29 billion pounds sterling (around 1.47 billion euros) at the end of the last quarter, according to financial results published by the club and relayed by The Times. This sum includes an additional loan of 120 million euros intended to finance recent transfers, bringing the debt to 854 million euros. Non-current liabilities amount to approximately 246 million euros and current liabilities to approximately 368 million euros, mainly comprising short-term transfer costs. Despite this level of debt, restructuring measures and the cuts of almost 500 jobs overseen by minority shareholder Sir Jim Ratcliffe made it possible to generate an operating profit.
After financial costs of approximately €24 million, the club posted a pre-tax loss of €9.6 million for the quarter. The sales of Alejandro Garnacho and Antony and the rationalization program reduced the share of payroll in total revenues from 56% to 52.5%. Sportingly, the club is doing slightly better and the Red Devils are positioned in 6th place in the Premier League standings.
