Richard Arnold John Murtough USA Manchester show pandemic Provident Richard Arnold John Murtough USA Manchester

Manchester United debt rises to nearly £500million in latest financial accounts

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Manchester United's latest accounts have revealed that the club's net debt has risen 11.8% from this time a year ago. The accounts, for the three-month period ending March 31 this year, show net debt now stands at £495.7million, up from £443.5million.

While the long-term US debt is unchanged, the rise included the credit facility which United have used to provide "financial flexibility" during the pandemic. READ MORE: Richard Arnold makes promise over United rebuild under Erik ten Hag Despite the rise in debt dividends will once again be paid to shareholders, including the Glazer family, on June 24.

United's recovery from the pandemic period has continued to gather pace, however, with matchday revenue now restored to normal compared to the previous year.

That has contributed to total revenues rising by 29%, while commercial revenue has also gone up by 13%. Those figures could provide a boost to the club's spending power this summer, with chief executive Richard Arnold saying the strength of that commercial operation is helping to fund investment in the club. "It has clearly been a disappointing season for the men’s first team.

Read more on manchestereveningnews.co.uk
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