Manchester United have announced their net debt has increased by almost £140m in their latest financial figures, even after posting another revenue increase for the first quarter of 2019-20.
The startling increase in debt levels from £247.2m to £384.5m, a rise of 55.5 per cent, will do little to appease disgruntled fans, unhappy with the way the club is run by the Glazer family owners and executive vice-chairman Ed Woodward.
United have posted revenues of £135.4m for the first quarter of 2019-20 which represents a £400,000 increase on the same period for the previous year.
The tenures of Woodward and the Glazer family have proved controversial for some of United’s supporters
Commercial revenue was £80.4m, a 5.9 per cent increase on the previous year, but the club are expecting 2020 annual revenue to be down this year to somewhere between £560-580m, compared to £627.1m for the year ending June 30,
2019, even though the club’s wage bill has dropped slightly.