- Premier League club’s net debt increases to £455.5m
- Ed Woodward hopes for ‘full capacity’ crowds next season
Manchester United have confirmed they accessed a £60m draw-down of their available £200m credit line in order to cover a soaring net debt of £455.5m as a result of the coronavirus pandemic. The club have also announced a 2.6% growth in total revenue from £168.4m to £172.8m in the last three months of 2020.
The modest climb was attributed to a 68% increase in broadcasting revenues to £108.7m, a figure helped mightily by United’s return to the Champions League. “Demand for live football remains strong,” the executive vice-chairman, Ed Woodward, said while announcing the club’s second-quarter fiscal results.
