Ed Woodward Manchester Coronavirus show pandemic 2020 Ed Woodward Manchester

Man Utd latest financial results confirm club's net debt rises to £429.1million

Reading now: 475
www.mirror.co.uk

Manchester United have confirmed that the club’s net debt has rose to £429.1million during the first three months of 2020. The club’s latest financial accounts showed an increase of £127.4million over the prior year quarter.

It has been largely put down to an overall decrease in cash and cash equivalents and adverse movements in the GBP:USD exchange rate.

United executive vice-chairman Ed Woodward also disclosed that the club is withdrawing its previous revenue predictions for the year - £560-£580m - due to the ongoing coronavirus pandemic.

Woodward has admitted that United are feeling the financial pinch amid Covid-19, but vowed to "weather these challenges" as a return to action edges closer.

Read more on mirror.co.uk
The website celebsbar.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA