Published 13:47 IST, February 26th 2020
Manchester United post MASSIVE £391.3 million debt as Bruno Fernandes signing dents funds
Manchester United reportedly have their work cut out for them when it comes to their finances. The club's Q2 report details a massive £391.3 million debt.
The blue half of Manchester has been engulfed in financial controversy over the last couple of weeks. While the Man City ban has led to rival fans sharpening their knives, Manchester United are reportedly not faring too well on the financial front either. The Q2 financial reports released by the club show that the net debt at Manchester United has risen to a mammoth £391.3 million. The £391.3 million represents a massive step-up of £73.6 million over the last year.
Manchester United post massive debt in Q2 financial report
The net debt at Manchester United as detailed in their Q2 financial report states that broadcast revenue in Q2 has also shown a stark decrease of £39m. The sharp drop in broadcast revenue comes as little surprise, considering the club finished outside the Champions League spots in the Premier League last season. The total revenues at Manchester United were also down by 19.3% to £168.4m.
While being listed in the Europa League fixtures courtesy of missing out on fourth place in the Premier League last season has contributed to the financial woes at Man United, their transfers have also contributed to the rising debt. The signing of Portuguese international Bruno Fernandes from Sporting Lisbon in the January transfer window has played its part in their financial troubles. Manchester United signed Bruno Fernandes for an initial £46.5 million fee with further add-ons being triggered with various clauses in his contract.
The Bruno Fernandes signing and, in some way the signing of Harry Maguire from Leicester City for £80 million earlier this season, has reportedly dented the finances at Manchester United, as evidenced by their financial report for Q2.
Also Read | Bruno Fernandes To Manchester United: What Does This Mean For Pereira, Mata And The Rest?
Figures at the club reportedly believe that the £391.3 million debt is not something that cannot be managed. The fact that the gross debt at Manchester United remains the same has also allayed fears of financial ruin at Manchester United. The club's financial reports are for a period of three months, from the end of December 2019 till the date the report was filed, which was earlier this week.
While Champions League football will go amiss in the red half of Manchester, Man United still feature in the list of Europa League fixtures this week. The Europa League fixtures list sees Manchester United take on Club Brugge this Thursday. The Everton vs Man Utd game follows the Europa League fixtures. The Everton vs Man Utd game will be played at Goodison Park on Sunday, March 1, 7:30 pm IST.
Updated 13:47 IST, February 26th 2020